Starting Tuesday, taxpayers will be able to “double-check” the amount they’re having withheld from their paychecks to make sure that their paychecks accurately reflect the new tax system.
The IRS and Treasury rolled out an online “tax calculator” Tuesday on the IRS website, with a plea for taxpayers to check to make sure that the new, post-tax cut withholding tables are correct.
The calculator is “a tool for American taxpayers to double-check their withholding,” Treasury Secretary Steven Mnuchin said at the Treasury.
Mnuchin added that he expected that there will be “no material change” in the number of people who receive tax refunds for this tax year.
Some Democrats had suggested that the Trump administration might intentionally set withholding too low to juice paychecks prior to the midterm elections.
For taxpayers worried that their own withholding level might be wrong, though, they can check it using the calculator and their pay stubs. If there’s a problem, the calculator will tell them if they need a new Form W-4 and what it should say.
