W-4 TAX CALCULATOR
The new W-4 design by the IRS is intended to REDUCE complexity and INCREASE both transparency and accuracy of the withholding system. as it replaces complicated worksheets from the previous version with more straightforward questions that makes things easier.
The form has 5 steps. BOTH Step 1 (personal information) and Step 5 (signature) are MANDATORY, where you sign the form. Steps 2 - 4 are optional but completing them increase accuracy should they apply to you.
THE NEW VERSION IS TRULY USER FRIENDLY and what you need to have available are the following:
- Paystubs for all jobs (spouse too)
- Other income info (side jobs, self-employment, investments, etc.)
- Most recent tax return
Tax Withholding Estimator
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