You have worked hard and have now retired. You receive pension and/or annuity benefits, have taxes withheld and all is well when you file your income taxes. True – well, maybe in the past, but perhaps not in the future due to changes to income tax by way of the Tax Cuts and Jobs Act […]
So, as much as we grumble and grouse about paying taxes, imagine how you would feel if you received a notice from the IRS that you were assessed a penalty for underpayment of taxes. If we are employed as W-2 employees, taxes are routinely withheld from paychecks. But, that only takes into consideration taxes on […]
Like most working Americans, when we start a new job, we complete a Form W-4 to direct our payroll withholdings for federal income taxes. Unless we have a life-changing event such as marriage or children, we don’t give it another thought about our withholdings. We become complacent with whatever the bottom line is on our […]
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