The IRS made the announcement August 6, 2019. A new and improved “Tax Estimator” is ready for use and should make it easier for people to estimate the taxes they’ll owe throughout the year.
This comes after many people received surprise tax bills, or lower-than-expected refunds, because of 2018 changes to the tax law. Countless employees didn’t realize they should adjust their withholding amounts and they had a rude awakening in April.
The IRS hopes the new “Estimator” will help you better pinpoint your withholdings so that you can come relatively close to a zero balance in 2020.