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  To adjust withholding on a full time job and a seasonal job W-2s, you need to treat the two jobs as a combined income source, even if one is temporary. if you don't adjust W-4 for your seasonal job, the IRS may underestimate your total income causing you to owe taxes and maybe penalties and interest for underpayment at the end of the year.   For the Full time job W-4: 1- use the IRS Tax Estimator 2 you need your most recent pay stubs from both jobs 3 info on any deductions like mortgage interest  4 check the box for multiple jobs 5 use multiple jobs worksheet to calculate an extra withholding amount 6- enter additional withholding amount suggested by the IRS estimator from the worksheet.      For the seasonal job: 1- Fill out the basic info such name SSN, Dependent etc.. 2- in step 2 leave the box unchecked 3 don't claim dependents if you did on the first 4- add extra withholding, especially if this job has high pay in a short window 5- if your seasonal job doesn't withhold enough taxes, then you can add a flat amount to step 4 $100-$200 per paycheck depending on your total earning .   Please let me know if you would like further clarification. 

The Form W-4, Employee's Withholding Certificate was redesigned in 2020, due to the Tax Cuts and Jobs Act (TCJA) of 2017.  The new form considers all sources of income, including multiple jobs or a spouse's income to determine the correct tax withholding amount.  The Form does include a line for Extra withholding.   If you and your husband have not updated your W-4 recently, you may want to consider doing so.  The IRS has an online tool to help employees accurately calculate their withholding.  IRS Tax Withholding Estimator 

If your income is consistent, then double check that your withholding was also consistent to see if this year varied from last year significantly.  The other thing that may have happened is if your children turned 17, then your child tax credit moves from $2,000 per child to $500.  With two kids, that would have swung your refund by $3,000 all other things equal.   To combat this, you may want to revisit your W-4 withholding to update the ages of your children.  If it's not an issue with the children turning 17 or a change in your withholding, please reach out to TurboTax, and we can look into the detail.

The underpayment penalty is 7% for underpayments (taxes owed but not fully paid).  The IRS considers the tax system as a 'pay-as-you-go' system, so the payments are calculated by quarter.   To avoid underpaying, you can either adjust W-2 withholdings or pay estimated quarterly taxes here. Thank you for joining us today @jvgonthier , and if you have a more specific question we're standing by happy to assist!  Please feel free to post again.   Hope this helps! Cindy

You can find the calculator under other tax situations on the left hand side of your TurboTax screen. Go to Form W4 estimated taxes. Follow the prompts. You can print the finished document and give to your employer.   You can also always update your W4 at work. Here are 5 reasons you should adjust your W4 withholdings. 5-reasons-to-adjust-your-w-4-withholding Step 2 of W4 section C check the box for multiple jobs. Here is the link to the W4 calculator W4 calculator  If you have not yet filed your taxes you can go back in and get access to the W4. If the return has already been efiled it woud say already submitted.  I hope i was able to answer your questions. Have a wonderful day!  

When you talk about allowances, this makes me think that they are using an old W4.  The new W4 does not use that terminology.  I would suggest looking that this information: How to fill out a W4  Instructions on how to fill out a W4 W4 calculator  Use to help fill out a W4 Form W4  Actual W4.  Line 4c is where you would add extra withholdings from each check.   Once you have filled out the W-4, then in a few months maybe use the links below to do a tax estimator.  This will tell you how much you might owe after making the changes.  You can do a tax estimator several times per year.  If you have changed your withholdings mid year, you will want to see that you keep owing less as the year goes on.   IRS Tax estimator This is a tax estimator that will time out so enter and print findings all at one sitting. Tax caster  This is another tax estimator that will time out so enter and print findings all at one sitting.    For state withholdings, it is hard to find a tax estimator for each state but they will have a state withholdings form that you can fill out.     If you keep owing, then sometimes you leave everything the same on the W4 but add extra withholdings to 4c of the form.  Let's say you owe $1000 next year after changing your W4s.  Then take $1000/ (number of pay periods in the year) and put that amount on 4c.  Ex.  1000/52 (paid every week)=19.2 or rounded up to $20 per pay period.   I hope you find this information useful.     Katie S      

This would best be a conversation to have with the payroll person or person(s) at your employer, but in the abstract it seems unlikely that there would have been no changes to federal tax withholding if your pay increased a few times during the tax year.   The only scenario that I could not see it changing at all is if somehow mistakenly you were exempt from taxes (Certain individuals may be exempt from Federal income tax withholding, such as students, the visually impaired, and those older than 65 whose sole income is Social Security, earned income credit in general) though this has to be renewed annually.     I would reach out to payroll and ask to verify what your W-4 looks like currently to check what you state it is as well.    All the best,   Marc T. TurboTax LiveTax Expert 28 Years of Experience Helping Clients  

Underpayment penalties can really add up even if your income is fairly consistent.   TurboTax automatically calculates estimated tax payments based on your income and withholding when you prepare a return using a safe harbor of the "prior year".  If you withholding was not enough to cover this minimum, you will see quarterly vouchers as part of your return (you will need to download a pdf copy of the return to see the vouchers themselves as they are not electronically filed with your return).     If you make these quarterly payments and have the same or higher withholding, then you will avoid the penalties.     Conversely, you can have your financial institution withhold funds from your investments which would then boost your overall withholding.   One thing to note, withholding from income items like bonuses, RSUs, etc, may not be substantial enough to cover those taxes.  In that case, it's advisable to make a tax payment (estimated tax payment) on those amounts to avoid being hit with underpayment penalties.   The IRS also has a free tool that you can use to tweak your W-4 so that you reduce your risk of the under payment penalty:  https://www.irs.gov/individuals/tax-withholding-estimator

Thank you for your response. The issue is I just completed the form in our online payroll system and it doesn't tell me how much it's going to withhold. I would like to see that before I submit the form. I did this once before and figured I would just say withhold extra and it it withheld $195 from my check which was shocking. Is there a way to do this calculation simply so I can see how much will be withheld before I submit the form?

On Form W-4, you should mark Head of Household and answer yes in Step 2 to indicate you have multiple jobs. You can also use the IRS Tax Withholding Estimator to estimate any extra amount you should withhold.  It considers your filing status, dependents and any other income.  Divide the amount among your remaining pay periods for the current year and note that amount on Form W-4 Line 4(c).  It will add to your Federal withholdings on your W-2.  If you have too much withheld, it will be refunded on your tax return.  You can make adjustments during the year if your income changes.   **Say "Thanks" by clicking the thumb icon in a post **Mark the post that answers your question by clicking on "Mark as Best Answer"

Hi Framar33,  Looks like you had balance due for your 2024 return.  Part of doing your tax planning is to adjust your withholdings for your W-2 job and update Form W-4.  On the other hand if you are self-employed, you can increase your Quarterly Estimated Tax payments.  Tax filing status is not something you can easily change, for example, if you are Single and don't have any dependents, not much you can do about that.  Here is some additional info for your reading pleasure:  Top 5 Reasons to Adjust Your W-4 Withholding What Is a W-4 Form? W-4 Calculator   Hope it helps. AmitaR  

You can use the IRS Tax Withholding Estimator to estimate the extra amount you should withhold.  It considers your filing status, dependents and any other income.  Divide the amount among your remaining pay periods for the current year and note that amount on Form W-4 Line 4(c).  It will add to your Federal withholdings on your W-2.  If you have too much withheld, it will be refunded on your tax return.  You can make adjustments during the year if your income changes.   **Say "Thanks" by clicking the thumb icon in a post **Mark the post that answers your question by clicking on "Mark as Best Answer"