This Simple Tax Move Can Spare You Penalties
The simplest of dance moves is the head nod -- it'll get you through any wedding without embarrassment. And the simplest of tax moves? Reviewing your W-4 annually to get through any tax year without penalties for underpayment.
A 2018 report from the Government Accountability Office estimated that 30 million U.S. taxpayers would owe taxes in 2019 due to underwithholding. The stark warning came after legislators pushed out the Tax Cuts and Jobs Act enacted in December 2017. The tax law changes affected withholding tables and left many taxpayers inadvertently giving too little to Uncle Sam with each paycheck.
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Source Fool.com
