We can help you change your withholdings for tax year 2017 by filling out a W-4, after your return has been accepted by the IRS:
- Open (continue) your return in TurboTax.
- In the search box, search for W-4 or W4 (lower-case works too) and then click the "Jump to" link in the search results.
- Answer Yes when asked if you want to adjust your withholdings and follow the onscreen instructions.
- We'll provide instructions for printing out your W-4. Give it to your employer and keep a copy for yourself.
Want a big refund? At TurboTax, our withholding philosophy is that you shouldn't owe too much nor get a large refund on next year's taxes. However, many taxpayers want to manage their withholdings to ensure a nice refund come tax time.
If you're one of those people, go ahead and print out the TurboTax-generated W-4 but don't give that one to your employer. Instead, download a paper Form W-4 from the IRS and print it out. Then:
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Copy the info from the TurboTax W-4 to the IRS W-4 except for Line 6.
- Determine how much of a federal refund you'd like next year and divide that amount by the number of paychecks you expect to receive next year.
- For example, if you want a $2,500 refund and get paid twice a month, $2,500 / 24 paychecks = $104.
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Add that amount to whatever amount you see on Line 6 of the TurboTax W-4 to come up with a sum.
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Write that sum on Line 6 of the IRS W-4 and give that W-4 to your employer. It's a very good idea to also make a copy for your records.
