{"id":14950,"date":"2018-03-08T23:19:53","date_gmt":"2018-03-09T04:19:53","guid":{"rendered":"https:\/\/gtm.com\/household\/?p=14950"},"modified":"2020-03-04T15:45:29","modified_gmt":"2020-03-04T20:45:29","slug":"paycheck-checkup","status":"publish","type":"post","link":"https:\/\/gtm.com\/household\/paycheck-checkup\/","title":{"rendered":"How To Conduct A Paycheck Checkup And Prevent Tax Time Surprises"},"content":{"rendered":"
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Performing a quick \u201cpaycheck checkup\u201d can help your nanny adjust her tax withholdings and protect against having too little or too much federal income tax withheld.<\/p><\/div>\n

The IRS recently released an updated Form W-4 and withholding calculator<\/a> based on changes to tax\u00a0law from the passage of the Tax Cuts and Jobs Act. This is an ideal time for your domestic employee to conduct a “paycheck checkup.”<\/p>\n

Your domestic employee should use the withholding calculator<\/a>\u00a0to make sure they have the right amount of income tax taken out of their paychecks if you are withholding this tax from their pay. If necessary, they can submit a new Form W-4 to reflect any changes.<\/p>\n

Using the withholding calculator can help your employee perform a quick \u201cpaycheck checkup.\u201d By checking their withholding, they can help protect against having too little tax withheld and facing an unexpected tax bill or penalty at tax time in 2019. It can also prevent employees from having too much tax withheld. Your employee may prefer to have less tax withheld and receive more in their paychecks. This may mean a smaller tax return when they file next year but the IRS says the average refund is already more than $2,800.<\/a><\/p>\n

It’s also a good idea for your employee to conduct a “paycheck checkup” if they are just starting to work for you or had changes in their personal circumstances in 2018.<\/p>\n

The IRS recommends the following groups perform a “paycheck checkup:”<\/p>\n