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Get your taxes done using TurboTax
Hi Monks, thanks for the questions.
Below is the re-designed Form W-4 from tax year 2020 and onwards.
Form W-4 Employee’s Withholding Certificate
https://www.irs.gov/pub/irs-pdf/fw4.pdf
There are three ways to fine tune your withholdings: both of you
(1) Submit a newly filled W-4, check Step 2 (c) box, which will increase your withholding and significantly reduce your paycheck;
(2) Go thru Step 2 (b), find the intersection of "higher paying job" and "lower paying job" (chart on page 4) divided by remaining pay periods, enter result on Step 4 (c);
(3) Use
IRS Tax Withholding Estimator
https://www.irs.gov/individuals/tax-withholding-estimator
to find out what to enter on Step 4 (c).
You can always use IRS Direct Pay to make some estimated tax payments. If pay more than the final tax liability, you will eventually receive a refund come tax time for tax year 2022.
Hope the above helps.
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