You may have been surprised this year with your tax refund or with the fact that you owed taxes. It took everyone, especially employees with W2 withholdings, by surprise. The reason for this was employees did not have enough tax withholdings from their paychecks. Thankfully, the IRS has a tool called the IRS Payroll Withholding Estimator designed to help taxpayers determine the correct amount of federal income tax to withhold from their paychecks.
Read more: IRS Payroll Withholding Estimator