The new Estimator is described as offering “a more user-friendly step-by-step tool for effectively tailoring the amount of income tax they have withheld from wages and pension payments.”
New features include plain language throughout the tool; the ability to more effectively target at the time of filing either a tax due amount close to zero or a refund amount; a new progress track; and the ability to move back and forth through the steps, correct previous entries and skip questions that don’t apply. There are also enhanced tips and links; self-employment tax for a user who has self-employment income in addition to wages or pensions; an automatic calculation of the taxable portion of any Social Security benefits; and a mobile-friendly design.
The IRS says tool can handle to wages and withholding for each job held by the taxpayer and their spouse, as well as separately entering pensions and other sources of income. After the process is complete, the Calculator makes specific withholding recommendations for each job.Last modified on Wednesday, 07 August 2019