Although you should never give tax advice to your employees, you can refer employees to sources of information.
Updated IRS publication 919, How Do I Adjust My Tax Withholding? for 2009 lists just about every deduction and credit and has worksheets that help employees decide if they are having too little or too much tax withheld. UYou can direct employees to the booklet, downloaded copies or have one on hand to lend when employees ask questions.
Highlighted 2009 changes include:
- The definition of a qualifying child;
- Modified rules for a noncustodial parent to claim an exemption for a child;
- IRA and pension plans;
- Making work pay tax credit, standard deduction increases, AMT exemption amount, nonbusiness energy property credit alternative fuel vehicle refueling property credit, and health coverage tax credit;
- Military personnel differential wage payements subject to withholding;
- Excludable unemployment compensation;
- Personal casualty theft losss; and
- Other adjustments for specific groups.
Download at www.irs.gov, typing 919 in the search box