The IRS encourages taxpayers with children and other dependents to use the Withholding Calculator at to do a “paycheck checkup.” Due to the new tax reform changes made by the Tax Cuts and Jobs Act, it is important to make sure that you are properly withholding to avoid penalties or unexpected tax liabilities. The new tax law, enacted in 2017, expanded and made significant changes to the Child Tax Credit. It also suspended the deduction for personal exemptions, increased the standard deduction, limited certain deductions and changed the tax rates and brackets.

Knowing how much to withhold can get complicated, so we advise you to make use of the Withholding Calculator to make changes based on your personal financial situation. If you decide that a new W-4 is necessary, here's a video that can help you fill it out.  As always, the 1040 TaxPrep Pros at are looking forward to helping you carry the load of your tax preparations in the upcoming year.