Time to Review Your Withholding?

If your 2024 tax return yielded unwelcome results (either too much money owed or too much money paid in throughout the year and then refunded), you may want to consider updating how taxes are withheld on your and/or your spouse’s paychecks. If  PPG  Partners  does  your  tax  planning,  we’ll  continue  to  review and adjust  your withholding as needed to meet your current salary and tax situation. Otherwise, all taxpayers are welcome to use the Tax Withholding Estimator on IRS.gov. You can then use the results from the Estimator to complete a new Form W-4 and submit it to your payroll processor or employer. Taxpayers should also complete a new state withholding form if needed. 

Note: when making adjustments, be sure to consider any atypical situations that have occurred or may occur in 2025, such as getting married or buying or selling a house. If PPG Partners does your tax planning, please mention these to us as well.

If you have children who are of working age but may not be tax- or financially-savvy yet, you may want to mention this to them. They may not realize that they can (and should!) update their withholding as needed.