With only three months left in the calendar year, you may wish to consult the IRS withholding calculator so you can be sure you haven't over- or under-withheld for the year. The prevailing thought among tax professionals is that this credit (which showed up as a $13 increase on your paychecks beginning in April) is going to create tax liabilities where people thought they were getting extra money. So check this calculator out to make sure you are not in for an April 15 surprise.
Owen S. Arnoff, Enrolled Agent
Admitted to Practice Before the Internal Revenue Servicehttp://www.betterbusinessventures.com
Sacramento Tax Consulting
Sacramento Tax Preparation
Sacramento Tax Representation
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