Do you need to adjust your federal income tax withholding amount?

Description

Abstract: With over half the year already gone, now is a good time for taxpayers to check to see if they are on track to have about the right amount of federal income tax withheld from their paychecks for 2014. Underpaying taxes can result in a penalty, and overpaying is basically making an interest-free loan to the government. This article points to a location on the IRS website that can help taxpayers make this calculation.