Every year, many people are surprised by how much they owe the IRS or by the amount being refunded. There are many factors that will define your tax situation as the year progresses. One area to consider is whether or not the correct amount of income tax withholding is being deducted from compensation. With each pay check received, employees should verify that their exemptions are correct. Exemption status will always appear on the employees pay notification. To verify whether or not a new W-4 should be completed to adjust 2011 income tax withholding, please check out the IRS’s 2011 version of Publication 919, How Do I Adjust my Tax Withholding? http://www.irs.gov/pub/irs-pdf/p919.pdf
If needed, blank W-4 forms are located under the forms tab on our website.
