A taxpayer makes $45,000 in salary for TY2023. During the year, his employer gives him a reimbursement for moving across the country in the amount of $10,000. His current withholding is with the anticipation of having a gross income from his job of $45,000. Should he modify his withholding?

Answer rating: 100% (QA)

Yes the taxpayer should consider modifying his withholding to account for the reimbursement he recei... View the full answer