Fall brings chillier weather and time to get ready for winter, organize the storage and cleanup the lawn. The Internal Revenue Service would like to remind taxpayers that it's also a great moment to review their taxes.

 

"Taking a few minutes to ensure what was taken from the pay check fits your proposed tax bill can save you headaches next year," said IRS spokesman Michael Devine. "If an inadequate amount was withheld, you may owe tax for 2013 and may need to pay a fee."

Changes to your income, like using another work, having a partner get back to work, or obtaining income-not subject to withholding, such as rent, dividends, interest or capital-gains, can transform the sum that really needs to be withheld.

 

"It's furthermore really important to check your withholding when there have been changes in filing position or that involve adding or shedding exemptions, like wedding, divorce, birth or adoption of a child," said Devine.

 

Info using this automated calculator may subsequently be utilized to change a W-4 to offer to your company.

 

Checking invoices and other records throughout the year can help you prevent problems at income tax return time.

 

Typically, tax records ought to be maintained for three years. But, some documents; such as records relating to your property buy or selling, stock transactions, IRAs and company or rental property, should be kept more.