Tax Commission: Check Your W-4
Check your W-4 to see if you have the right amount of taxes withheld from your paycheck.
That’s the message from the Idaho State Tax Commission, reminding Idahoans that tax laws have recently changed the amount withheld from paychecks.
“All Idaho employees should take the time to review and update their W-4s,” Renee Eymann, public information officer with the Tax Commission, said in a prepared statement on Thursday. “We want them to act now to avoid a surprise when they file their taxes next year.”
The Tax Commission further explains:
New federal and Idaho tax laws lowered the income tax rates, increased the standard deduction, eliminated the personal and dependent exemptions, and capped or eliminated most itemized deductions. Idaho also created a new Child Tax Credit. All these changes have significantly affected your federal and Idaho withholding.
What you should do: