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Important tax info...

Sorry for the title, just feeling impish...sometimes I just like to see if I can send someone's blood pressure up a notch...The info below is from an article in the WSJ, Saturday/Sunday edition, page A3:

IRS has reduced the amount of tax you had to withold to avoid a penalty for 2018.
Normally it was 90% you had to have witheld to avoid penalty. In january, the IRS said it would be reduced to 85% for 2018.
Now, after some hearings with munchkin, witholding amount is REDUCED TO 80%. If you already paid a penalty, the article says you can file form 843 for a refund. It also says commercial tax prep software should be updated in a week.

It also says.."taxpayers are also exempt from penalties if they had paid an amount equal to 100% of the previous year's taxes.""

And.."The IRS is holding a fee webinar on March 28th to assist taxpayers with adjusting their witholding".

AJ, Ira, and others...please correct/add to this post in case I got anything wrong in it.

( I don't like the way the article is written. It refers to witholdings as tax payments. I don't like that because one could get all of that witholding money back. It's not really a tax payment. But since I've dealt with many contracts which require Advance Deposits, maybe its just me)...and....

of course there is news about brackets. Supposedly there is a neurosurgeon in the mid-west..I believe it said Ohio...that has a perfect bracket going into the sweet 16 games today. That is unreal. Maybe he should work as a sports betting advisor also.
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