Trouble with tax withholding? Taxpayer Advocate had same problem

By Laura Davison and Kaustuv Basu
Published March 07 2019, 2:21pm EST | Bloomberg News

People discovering that they had too little tax taken out of their paychecks last year are in good company. It took National Taxpayer Advocate Nina Olson three attempts to figure out her own withholding.

Olson — who runs an independent office in the IRS to help taxpayers with significant problems — said after last year’s tax law changes she consulted the IRS’s online withholding calculator as well as the withholding tables themselves, and came up with what she believed needed to be withheld from each paycheck.

But “when the paycheck came out, I thought that’s not the right dollar amount,” Olson told reporters Thursday after testifying to a House Ways and Means subcommittee. “So, then I went back and I added some more money.”

She said it took her two more tries to get it right…[More]

To read the entire story by Laura Davison and Kaustuv Basu, Visit Accounting Today: Trouble with tax withholding?