April 20, 2009
Take A Look At Your Paycheck
It might be wise to take another look at your paycheck — just to be safe.
The federal tax withholding rates changed beginning with the paycheck you received March 12, 2009, reflecting the new rates outlined in the latest Stimulus Bill.
The IRS says that most folks won't not need to fill out a new Form W-4. But, just in case, you need to take a look at the withholding rate on your check. And for individuals or couples with multiple jobs, it might be best to submit a revised Form W-4 (check out IRS Publication 919) to ensure enough withholding is held to cover the tax for the combined incomes.
You can find out more at the IRS website or reach out to Dow Jones Payroll at 609-520-4589.