Millions of Americans will need to use a new Internal Revenue Service tool to ensure their new paychecks are accurate, The Washington Post reports.
The guidelines are necessary for businesses to calculate how much to withhold in taxes from employees’ paychecks beginning as soon as next month. Businesses should make these adjustments by Feb. 15, the White House says, part of the administration’s push for millions of workers to see bigger paychecks as quickly as possible.
In rushing the process, the Treasury Department is asking companies to rely on outdated forms to help determine how much to withhold. Americans who intend to itemize their tax returns will need to use the online tool to ensure that they aren’t drastically overpaying or underpaying their taxes. If their paychecks are inaccurate, employees must notify their employers to make corrections.
