Answer:
When it comes to taxes, less isn't always more because If you don't withhold enough from your paycheck, you may end up surprised at how much you owe Uncle Sam at tax time. And the chances that you are under-withholding taxes are higher than you may think.
Explanation: A 2018 report by the Government Accountability Office (GAO) suggested that a fifth of taxpayers might owe taxes in 2019 due to under-withholding.1 The concern was particularly significant that year due to changes in the 2017 Tax Cuts and Jobs Act. The updated W-4 form from the Internal Revenue Service (IRS) was fully implemented by 2021, and for some, those changes came as a surprise in the form of a more expensive tax bill.
However, no matter what tax year, it's important to withhold the correct amount from your paycheck to avoid underpaying the government.
