As a provider of tax preparation services, Louisville Asset Building Coalition (LABC) will be serving as a resource to the community for accurate, up-to-date information about the tax law changes that will go into effect for the 2019 tax filing season. Above is a link to a short video that explains some of the changes that may effect you, as well as a Withholding Calculator that will help you perform a "paycheck checkup” to check that you're not having too little or too much tax withheld at work.
Among the groups who should check their withholding
- Two-income families
- People working two or more jobs or who only work for part of the year
- People with children who claim credits such as the child tax credit
- People with other dependents who can’t be claimed for the child tax credit, including children age 17 or older
- People who itemized deductions on their 2018 tax return
- People with high incomes and more complex tax returns
- People with large tax refunds or large tax bills for 2018
