Working with new employer and completing W-4. Looks different than last time I completed it. Below is my scenario and wondering how many allowances to claim;
Married, two children, filing jointly and one source of income (mine) which is less than 100,000.
I see on the worksheet Lines A-C are very simple and I’ve claimed “1” per line. However, Line E, Child Tax Credit is confusing. Says “4” for each eligible child. Does that mean 8 allowances just for Line E by itself and a total of 11?? Can’t be right. Need help.
YOu really need to read the instructions on page 3 of the W-4 package. For example, if you have children over the age of 16, they do not qualify as an "eligible child" for line E. If you were not provided the instructions, you can read them at https://www.irs.gov/pub/irs-pdf/fw4.pdf