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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"

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"

Good advice from mesquitebean A lot of the information will transfer to your 2024 from your 2023 .tax file if it is on the comp when you open it and it will ask if you still need these? If you have the 2023 PDF you can compare without opening the TT for 2023 and have 2024 open and just switch screen. As mesquitebean said those files have sensitive info and should be encrypted and kept on a usb drive and only used when you need them. I was going to send this old post of mine but got tied up yesterday. It is similar to what mesquitebean said. As you said you may just have to do all at one time so as not running out of activation code use. If you can just DO NOT close the TT and you should not have to need a code again since it will still be open. And if you do get done you should still continue to try and find out from TT what has been happening. Make sure to make PDF copies of ALL the forms selections that are listed at the end not just the filing but all of them so you can look at them whenever you want without TT. Here is the Text and the link to my previous post on saving files.     XAM330 Level 3 mdcommuter This is a bit late but here is something to try for years to come. If you opened the file you sent and then saved the new updated file I do not believe you can go back. I can say this though as far as how I have handled my TT for years as a way to prevent this from happening. When doing your taxes there will always be updates and this year was a real doozy. Make a FOLDER for your taxes (I use 2020 SENT) and this will be the tax files that you send in and all files such as the .PDF of your forms. Anytime you would like to see if there might be an update that you think will change your status do this. Go to your (FOLDER SENT) and make a copy of the original file xxxxxxxx.tax and place it (paste) somewhere else (I create another FOLDER such as UPDATES 2020 for this) and rename it by adding the update and date (xxxxxxxxxxxUPDATE APRIL xx 2020.tax) and then double click on it or open TT and find that file on the list and open it. TT will update every time you open it and are connected to the Internet unless you tell it not to. Once the copied file is opened it will be updated automatically and you will see any changes and when you close it you can save it as is. DO NOT open the original xxxx.tax file again unless you are sure that you will REMEMBER to select NOT TO SAVE THE FILE WHEN YOU CLOSE IT. You should always save copies of the xxx.tax files and always save the .PDF of the file that you can print making sure to select to copy/print all forms and worksheets NOT just to send but ALL FORMS. Keep these on a USB or other drive as backups to the ones on your computer. If you make a copy after you input all tax data you should make a copy that you can use to do any changes to see how they affect your taxes before or after you send them in.   One other thing that you could do is if you have the disc for TT you could install on another comp and NOT let it update then input all your info and see how close it is. This will not have the $10,200.credit but may also not have other updates that you need for the time of your filing.   I had the same thing happen this year after sending taxes in and waited for the update to TT. After the update, I did as described above and now I know what I should get back. I just received my refund but it was only for the amount + interest and of the original return (my state does not tax unemployment so there was no change to state refund) so I am here looking to see if I can get a idea of when I may get the rest and the letter from the IRS. Well at least I don’t have to wait till August to get my refund like last year although it might take that long to get the $10,200.00 credit. Hope this helps. ‎June 16, 2021 10:41 AM https://ttlc.intuit.com/community/tax-credits-deductions/discussion/covid-relief-bill-unemployment-tax-changes-already-filed/00/2063875/page/2              

A few things that jump out to me from your question.  A child born anytime during the year is eligible for the child tax credit, so it is not a pro-rata amount based upon the date of birth.  Only one of you should be claiming the child tax credits in Step 3 of the W-4, assuming your combined income is below $400,000, therefore, Step 3, assuming the other child is below the age of 17, should be $4,000.   With the birth of a child this year, one or both of you may work less during the year as well, so your overall income may be less as well.   Step 2 should at a minimum have the Box checked in Step 2 for two jobs also.   The 529, assuming the state you live in allows a deduction or credit for a contribution, only impacts state tax withholding.   If you took the standard deduction last year, it is likely you would be taking it in 2025 as well, since medical expenses as an itemized deduction are limited to 7.5% of adjusted gross income.   An example of this would be if your adjusted gross income is $100,000 the first $7,500 of medical is not an itemized deduction.   Best of luck with what I hope is the healthy birth of your child @Kuddin2     All the best,   Marc T. TurboTax Live Tax Expert 28 Years of Experience Helping Clients