Surprised by a tax bill this year? Consider ways to pay without interrupting your financial plan.
_Filing season is underway, and many working Americans are already receiving their refunds – the first since the new tax legislation went into effect. The new law (in conjunction with any adjustments you may have made to your withholding) may mean your refund looks different from years past. So what happens if you were expecting a refund but got an unexpected bill instead?First, stay calm. Secondly, think strategically about how to pay what you owe, particularly if your money is invested, earmarked for retirement or stashed away in an emergency fund. Lastly, put plans in place to include more tax-mitigating strategies into your financial plan. Doing so can help avoid this situation next year.If you do find yourself obliged to pay, perhaps you can rely on one of these options to help you settle up with the IRS and keep your financial plan undisturbed and on track.