Talking taxes: Adjusting your withholding

February 8, 2010

Every year I swear I'm going to do some podcasts here on the ol' blog. Then tax season arrives and I get swamped.

Thank goodness for Flexo and Tom. In addition to being podcasters extraordinaire at Consumerism Commentary, this tax season they're recording spots for TurboTax's blog Tax Break.

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So I was jazzed when Flexo and Tom invited me to be part of the program. It's always fun to literally talk taxes. Even better, they edited our conversation so that I sound really cool discussing why and how to adjust your payroll withholding. Thanks guys!

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Tax Season 2026 Continues!

We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • DD, you don’t owe penalties and interest unless you grossly under withhold and owe $1,000 or more or pay any tax due after the April 15 filing deadline. If, however, you adjust the amount taken out of your checks and end up owing the IRS a couple of hundred dollars, that’s all you send in with your April 15 From 1040 filing. No interest or penalties is assessed in these cases, which are the most common. Kay

  • NO! Do Not change your withholdings! When you pay the state or feds back, it is with penalties and interest!

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