Will TurboTax calculate W-4 withholding allowances based on the new 2018 tax rates?

Forum|Forum|7 years ago
June 5, 2019
5 replies
39 views

I see that the W-4 withholding calculator is currently unavailable on the IRS's own web site. They have withdrawn it while they update it for the new 2018 tax rates. Are these new rates already built into TurboTax's W-4 calculator, or should we wait for an update?

TurboTax Premier Windows

Best answer by TomK2023

Turbotax W-4 Withholding Calculator is for tax year 2018. https://turbotax.intuit.com/tax-tools/calculators/w4/

"Can I find out what impact tax reform has on next year’s (2018) taxes?

Yes. You can estimate your 2018 taxes at any time with TaxCaster. It’s up-to-date with the latest tax laws and can calculate both your current, and future year taxes."

Both TurboTax Online and CD/Download versions are regularly updated; as is TaxCaster.

2017 Tax Reform legislation: What you should know

[Edited 1/31/18 | 12:37pm]

TomK2023Answer

Level 15

Turbotax W-4 Withholding Calculator is for tax year 2018. https://turbotax.intuit.com/tax-tools/calculators/w4/

"Can I find out what impact tax reform has on next year’s (2018) taxes?

Yes. You can estimate your 2018 taxes at any time with TaxCaster. It’s up-to-date with the latest tax laws and can calculate both your current, and future year taxes."

Both TurboTax Online and CD/Download versions are regularly updated; as is TaxCaster.

2017 Tax Reform legislation: What you should know

[Edited 1/31/18 | 12:37pm]

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ec1Author

Level 2

Thank you for responding, but this does not exactly answer my question. First, I'm not asking if the W-4 Withholding Calculator is for 2018 (of course it should be). I'm asking if it incorporates the new tax rates enacted in the Tax Cuts and Jobs Act (the new tax law, passed in December). Second, I would like to know if these new tax rates are built into the W-4 Calculator in the version of TurboTax installed on my PC, not Intuit's online tool.