Hi, yes when the dependents no longer are eligible for the child tax credit that will definitely affect your taxes! Submitting a new Form W4 to your employer and not claiming the two dependents will increase the tax withheld. Will it be enough? A great resource is the TurboTax W4 Calculator.
https://turbotax.intuit.com/tax-tools/calculators/w4/
It will walk you through the Form W4 and help you complete the form more accurately. Keep in mind that any changes won't be for the full year of 2022 since it is already end of July.
Hope you find this helpful!
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
