Prep for next tax season by giving your paycheck a checkup

Changes to tax rates by the Tax Cuts and Jobs Act left some surprised when withholding taxes applied to paychecks was not enough to cover their tax bill. The payroll department suggests employees review their tax withholding as the half-way point of the tax year approaches to ensure the right amount of tax is withheld based on personal circumstances.

Payroll advises and the Internal Revenue Service recommends employees give their paycheck a checkup using the IRS withholding calculator to evaluate the amount of payroll taxes currently withheld from their paychecks. The IRS website provides tips and instructions for using the calculator. The IRS also provides answers to frequently asked questions.

Employees use the results of the calculator to determine if a new form W-4 needs to be completed to make changes to their tax withholding. Submit new forms to the payroll department on the second floor of the Thompson Center at 720 E. 13th Ave. The net pay calculator on the business affairs website helps employees see how changes on their form W-4 impact their net pay.

Contact the payroll office at 541-346-3151 with questions. However, payroll representatives cannot give tax advice. Contact a professional tax preparer for consultation related to individual tax questions.