Why was my withholding less in 2018 than 2017 when my income was higher? I did not change my W-4. Turbo tax says I owe underpayment penalty.
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1 Best answer
JulieCo
New Member
Jun 1, 2019 11:25:04 AM
The IRS lowered the withholding table amounts in 2018 due to the lower income tax brackets from the Tax Cuts and Jobs Act of 2017. To avoid this scenario for 2019, you can adjust your withholding allowances and/or amounts utilizing TurboTax’s W-4 Withholding Calculator.
The IRS lowered the withholding table amounts in 2018 due to the lower income tax brackets from the Tax Cuts and Jobs Act of 2017. To avoid this scenario for 2019, you can adjust your withholding allowances and/or amounts utilizing TurboTax’s W-4 Withholding Calculator.