topic Re: W4 setup in Get your taxes done using TurboTax

W4 setup

Aceplayer420 — Wed, 11 Feb 2026 07:10:07 GMT

So my wife and I filed jointly claiming 4 kids.We make approximately eighty thousand and ended up only getting a thousand dollar refund. I r s said the withholdings were not set up correct to get a larger Refund. So what is the best setup On w4 to maximize refund

Re: W4 setup

xmasbaby0 — Wed, 24 Apr 2024 19:45:10 GMT

Do you realize that a "bigger refund" that you get by having more tax withheld from your paychecks only means you are giving the government an interest - free loan all year?

https://turbotax.intuit.com/tax-tools/calculators/w4/

https://www.irs.gov/individuals/tax-withholding-estimator

https://www.irs.gov/pub/irs-pdf/fw4.pdf

Re: W4 setup

DawnC — Wed, 24 Apr 2024 19:52:04 GMT

Whenever there are multiple jobs or both spouses work, your W-4s need to reflect that. You can adjust your withholdings for every job or just make changes for one job. The more you have withheld, the bigger your refund. And when you don't withhold enough, of course, lower refund, or you may owe. Changing your filing status to Single will cause your employer to withhold more tax. You can reduce the number of dependents as well to have your employer withhold more taxes.

Review and Update your W-4

• Complete Form W-4 at the start of employment, so your employer can accurately calculate how much federal income tax to withhold from each of your paychecks.

• If you withhold too much, it’s like giving the federal government an interest-free loan. If you withhold too little, you may face an unexpected tax bill and perhaps a penalty for underpayment.

• Your personal information is used to determine your filing status, Standard Deduction, and tax rates. If you hold more than one job or are Married Filing Jointly and your spouse also works, include that information on your Form W-4.

• You can claim an exemption from withholding if you had no income tax liability in the prior year and don't expect to have a tax liability in the current year.