Employer didn’t withhold enough Federal Income Tax
Understanding withholding tax is crucial for financial control. Employers withhold a set amount from an employee’s paycheck, directly remitting it to the IRS in their name. This withheld money acts as a credit against the employee’s annual income tax bill.
To understand your Form W-4, we break down the complexities, providing clarity on your paycheck deductions and how they influence your tax situation. Don’t let tax season catch you off guard—be in control!
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About the author, Rhamy
Rhamy grew up watching and working with his mother and grandmother in the senior insurance market. This familiarity with the struggles faced by people trying to navigate the incredibly complicated and heavily regulated healthcare market led him to start Poplar Financial while working on his degree at the University of Memphis. After completing his MBA and Bachelors in Finance and Economics, Rhamy guided Poplar Financial through the disruptive opportunity that is the Affordable Care Act. Since then Poplar Financial has received numerous awards from major insurance carriers and has completed its fourth year in a row of doubling in size. Now his team focuses on the processes around human resources and specializes in providing companies with between 20 and 1000 employees with the payroll, benefits, and HR needs.