Retirees: New IRS tool makes it easier to check your withholding:
August 7th 2019
Summary:
This tool helps you tailor the amount of tax withheld from your income to target a tax due amount close to zero or a refund amount making it easier for retirees to pay the correct amount of tax.
The new Tax Withholding Estimator makes it easier for retirees to pay the correct amount of tax.
This tool helps you tailor the amount of tax withheld from your income to target a tax due amount close to zero or a refund amount. New features for pension income provide more accurate estimates of withholding. It even automatically calculates any taxable Social Security benefits.
Use the Tax Withholding Estimator’s recommendations to complete a new Form W-4P, if needed, and give it to your payer.
The mission of the IRS is to provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.
This mission statement describes our role and the public’s expectation about how we should perform that role.
- In the United States, the Congress passes tax laws and requires taxpayers to comply.
- The taxpayer’s role is to understand and meet his or her tax obligations.
- The IRS role is to help the large majority of compliant taxpayers with the tax law, while ensuring that the minority who are unwilling to comply pay their fair share.
Address, Main Office
Internal Revenue Service 1111 Constitution Ave., NW Washington, DC 20224
Contributing since February 17th 2022.