Are you counting on a big tax refund in 2023 to help with expenses? Other than forced savings, there’s no benefit to overpaying taxes through withholding and then waiting all year to get a refund. The IRS only pays interest if it takes more than 45 days to issue a refund on a filed tax return and any interest paid is taxable income. The IRS reports that in 2022, about 70% of taxpayers got refunds, averaging just under $3,000. Instead of waiting for a refund, consider adjusting your withholding now. If you’re overpaying, you’ll raise your net paycheck immediately. You can use this IRS Paycheck Checkup tool: https://bit.ly/3gQTFIs Call or visit our website for more information! www.mjscpa.com/
