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IRS expanding video options

Can't find a program that appeals to you on TV? Tune in the IRS network!

Yes everyone's favorite federal agency, the Internal Revenue Service, is taking new media very seriously. The IRS now has its own YouTube page, with a collection of video presentations for your viewing and tax pleasure.

The videos cover a variety of relevant tax topics and are in English, American Sign Language (ASL) and Spanish. In addition, iTunes aficionados can find IRS podcasts at that site.

The latest IRS clips contain information on the 2009 stimulus plan, otherwise known as the American Recovery and Reinvestment Act. Videos highlight the $8,000 first-time homebuyer’s credit, the sales or excise tax deduction on new car purchases and the expanded credits for education expenses and energy conservation efforts.

There's also a video, featured below, on using the IRS' withholding calculator, which might come in handy if you're concerned that your payroll taxes need tweaking in light of the Making Work Pay tax credit that took effect in April.

As I blogged about earlier in Making Work Pay payroll considerations, folks who have been having less money taken out of their paychecks because of the credit, but who hold more than one job or have a working spouse, could end up having to pay some of that credit back if their withholding isn't correct.

The online withholding calculator can help you avoid that unwelcome surprise when you file next year by determining how much should be coming out of your checks now.

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