I am trying to help my kids figure out their tax withholding for 2024 so they don't have to pay taxes next April. I worked through both the IRS and the TurboTax tools, and they are miles apart! The IRS tool says they're going to be short $1,094, and the TurboTax tool says they'll be short over $4,000!! I used all the same information on both. How do I know which one is correct? Why is this form so #$@* complicated! Can someone please help me?
Thank you,
Lisa
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My suggestion is to use the IRS Tax Withholding Estimator here.
Maybe I'm too OCD. I have no idea where the number they put in 4a came from or what it represents. Then they also say to withhold an additional $152 per pay. It just doesn't feel right. But thank you for your reply!
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