Refund

LauraBond — Wed, 28 May 2025 16:03:22 GMT

How do I change my W-4 so I don’t owe taxes again?

Re: Refund

SwapnaM — Wed, 28 May 2025 16:40:13 GMT

The key to avoiding this is to adjust your tax withholding throughout the year so that the amount of tax taken from your paychecks closely matches your actual tax liability. https://turbotax.intuit.com/tax-tips/irs-tax-forms/how-to-estimate-federal-withholding/L99CO0yTK

Review Your Current W-4: Check your current W-4 form to see how much is being withheld from your paycheck.
Estimate Your Tax Liability: Use an online tax calculator to estimate your tax liability for the year. This will help you determine if you need to adjust your withholding. https://turbotax.intuit.com/tax-tools/calculators/w4/ https://www.irs.gov/newsroom/irs-tax-withholding-estimator-helps-taxpayers-get-their-federal-withholding-right
Adjust Your Withholding:
- Increase Withholding: If you owed taxes last year, you might need to increase the amount withheld from your paycheck. You can do this by filling out a new W-4 form and specifying additional withholding on line 4(c).
- Claim Fewer Allowances: Reduce the number of dependents you claim on your W-4. If you need more taxes withheld to avoid owing, you can choose not to claim dependents here, even if you have them.
- TIP: You can select Single or Married Filing Separately in Step 1 for your W4 and enter amounts in Step 4 for additional withholdings to increase your refund.
Consider Additional Income: If you have other sources of income (e.g., freelance work, investments), make sure to account for these when estimating your tax liability.

@LauraBond Thank you for your question!!