Thursday, June 21, 2007

IRS Online Withholding Calculator

Need a quick way to figure out your federal tax withholding for that new Summer job? Then try the IRS's online withholding calculator. According to the Web site, "The purpose of this application is to help employees to ensure that they do not have too much or too little income tax withheld from their pay. It is not a replacement for Form W-4, but most people will find it more accurate and easier to use than the worksheets that accompany Form W-4. You may use the results of this program to help you complete a new Form W-4".

Ernster, the Virtual Library Cat

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