Getting A Tax Refund? Idaho Officials Say You Might Want To Double-Check
The Idaho Tax Commission is sending out a new form to help residents recalculate their tax withholdings. The move comes after a tax makeover by state lawmakers last year.
More than 70,000 employers across the state will soon get a new form their workers can use to figure out how much money they need to set aside for their Idaho income taxes.
State lawmakers aligned the state’s tax code with a recent overhaul at the federal level last year, along with chopping personal income and business taxes.
Because of that, many people may not be withholding enough of their paycheck and they could face an unexpected bill.
In his State of the State Address, Gov. Brad Little said personal income tax revenue is down from earlier projections.
He says he thinks the money will come in one way or the other, but he’s holding off on budgeting for it.
“Though we are confident, in true Idaho fashion, we will not spend money that’s not in the bank,” Little says.
The state’s tax withholding calculator is also available online.
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