Don’t Count on that refund

As the end of the year approaches, many taxpayers may be counting on a refund on their income taxes. Due to tax reform, many employee’s withholding decreased, giving them more money in their paycheck, but, it could also mean that not only will you “not” get a refund, but you could end up oweing money.   CPA Faron Adamson tells us with the change in tax tables there could be a shortfall in the amount withheld from your paycheck.

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He advises taxpayers, be aware that you may not get a tax refund

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The 2019 tax filing season is coming and with only a couple pay dates left, taxpayers should perform a paycheck checkup, by using the Withholding Calculator on the IRS and on the Missouri Department of Revenue Website.   If you find that too little is being withheld from your paycheck, contact your employer and submit a new W4.


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