State of Idaho: Save Yourself from a Tax Bill: Update Your W-4 Now!

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See Idaho Tax Commission offers help calculating withholding

Link: https://www.idahostatesman.com/news/business/article224096090.html

The state of Idaho urges you to update your paycheck withholding for both federal and state taxes. New tax laws have changed the calculation for income taxes withheld from your paycheck. If you don’t withhold enough tax, you could have an unexpected tax bill when you file your tax return for 2018, 2019 and future years.

Steps to take NOW:

  1. Use the withholding calculator at IRS.gov to calculate your federal withholding. Update the federal Form W-4 with that information.
  2. Use page 2 of the Form ID W-4 to calculate your Idaho withholding. Fill out Form ID W-4 with that information.
  3. Give both W-4 forms to your employer.
If you owe money with your state tax return:
  • If you pay your income taxes by the April due date, you won’t be charged penalty and interest. You can make prepayments using our free QuickPay service.
  • If you can’t pay your taxes by the due date, penalty and interest apply. You can request a payment plan to spread out your payments.

Make sure you have the right amount of taxes withheld from your paycheck.

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