The IRS says, "All taxpayers should review their federal withholding each year to make sure they're not having too little or too much tax withheld." However, employees may not be aware of the IRS' suggestion, which is why employers should tell them about it.

Most people think about saving for retirement. If your employer offers a 401(k) plan, which about half of all companies currently do, taking advantage of that plan is an attractive option.