For employees, withholding is the amount of federal income tax withheld from your paycheck. The amount of income tax your employer withholds from your regular pay depends on two things:
The amount you earn.
The information you give your employer on Form W–4.
AVOID STRESSFUL SITUATION IN THE FUTURE! Check the IRS Tax Withholding Estimator today:
You can use the Tax Withholding Estimator to estimate your 2020 income tax. The Tax Withholding Estimator compares that estimate to your current tax withholding and can help you decide if you need to change your withholding with your employer.
Sincerely,
Maryna Varabyova, CPA
(877) 677-3737
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