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GOBankingRates on MSNWhat Is Withholding Tax? How It Works and How To Avoid Owing at Tax TimeEver look at your paycheck and wonder why the amount you actually take home is a lot less than what you earned? That’s where ...
Remember that the more allowances, the less withholding. If you have circumstances that mean your tax bill might be a little higher than what you pay based on your wages, such as a freelance ...
or tax credits, you may claim additional withholding allowances. To set the number of allowances, complete the computation on IRS Form W-4 and submit it to DFAS or your services pay center.
The new tax form is designed to be less complex while increasing the "transparency and accuracy of the withholding system," according to the Internal Revenue Service. "While it uses the same ...
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