Number Of Allowance To Claim on W4

[Butterfly11218]

Hello,

I need up owing federal tax this year and. Ould like to understand what I should change my "allowances" to so that I am not in the same poison when it comes time to file for 2023.

Currently  my alliance are for Federal - 2 and for State - 3.

What should  number I change them to?

[xmasbaby0]

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

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

[Critter-3 · Accepted solution]

First the federal W-4 doesn't have allowances any longer  but you can stop claiming dependents on line 3 and choose the SINGLE option for the filing status even if you are married. 

The same with the state ... reduce the dependent allowances and/or change the filing status to single if that is an option.

One option is to use TurboTaxes TaxCaster to estimate the amount of your refund and adjust your withholding to reduce the refund and increase your take home pay.  

You can then use the W-4 Calculator 2022 to adjust your federal withholding.  

This article helps explain how to adjust your W-4 withholding.  Form W-4 and Your Take-Home Pay 

This article provided 4 additional ways to reduce your taxes.  4 Last-Minute Ways to Reduce Your Taxes

[Butterfly11218]

Thank you!