Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Reality Check: Tax Form Confusion

Less than two weeks until the end of the year and North Carolina taxpayers face a deadline. A new withholding form has to be filed with your employer by December 31st. It called the NC-4EZ. But many people aren't finding anything easy about it.

The reason for the form is the reduction in state income tax beginning next year and the switch to a flat-rate. But there is a price to be paid that involves a pen.

Tax advisor Jim Lowe says the form doesn't look at all like the old NC-4 version we've been filing for years. Income range, family status, withholding criteria are all jammed on one sheet. 
"I think this form is a little daunting, even though it's supposed to be for the EZ," said Lowe. "I think the big downside is just the form is confusing, and it's overwhelming."

Another issue is timing. The form wasn't available until less than a month ago. December 31st is looming.

If you miss the deadline, your employer will have to list you as a single person, with zero deductions. That likely means lower take-home pay, but it's not forever. 

"When you get your first paycheck, or your second paycheck in 2014 and something doesn't look right, you can always go back and adjust that," said Lowe. 

In the final analysis, Lowe sees NC-4EZ as just part of a new process. A change that should improve your bottom-line.  

Click here for more information or to downlown the NC-4EZ form or call 1-877-252-4487.


6:00PM News 13 @ 6
6:30PM ABC World News
7:00PM Wheel of Fortune
7:30PM Jeopardy
8:00PM Last Man Standing
9:00PM Shark Tank
10:00PM 20/20
11:00PM News 13 Tonight

Complete Schedule »