Extra Withholding

5 replies
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If I want to have a certain amount of Extra Withholding withdrawn by my employer, must I change my W4?

My W4 was completed before 2019. Will this withholding change force a new computation with 2023 W4? Thank you.

xmasbaby0

Level 15

Yes....complete a new W-4.

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

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

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RetMil22Author

Level 2

So my Employer must use the 2023 W4?

Opus 17

Level 15

@RetMil22 wrote:

So my Employer must use the 2023 W4?

Yes. If you do want to change or update your withholding, you must use the current form.

It seems like there is probably a procedure to allow employers to calculate withholding for employees who have not submitted new forms since the tax reform law. If there is, it's probably in publication 15-T. And I suppose the employer has a computer program that can calculate withholding using the old formula for employees who have not submitted new forms. I actually have not updated my own W-4, since whatever my employer has on file for me is working, I have no reason to mess with it. However, you can't submit a new form using the old formula, you have to use the new form if you want to change anything.

DanaB27

Employee Tax Expert

Yes, if you want to change your withholding with your employer then you must change your W-4 with your employer. After you submitted the W-4 with your employer your withholdings will change for 2023.

Please see What Is a W-4 Form? for additional information.

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Opus 17

Level 15

I would suggest using the IRS withholding calculator to determine what to put on the W-4.

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

Alternatively, you might fill out a new W-4 following the new instructions (including the special worksheets for multiple jobs and itemized deductions, if they apply to you) but not adding anything extra. Submit it and see how your withholding changes. After a couple of paychecks, if you still feel you are under-withheld, do another new W-4 and add the extra withholding. (without knowing the formulas and your exact situation, there's no way to know how much things will change just from the new W-4, and if that might satisfy your needs without extra.)

Also and this is important, if you are married and your spouse works or you have more than one job, you need to submit new W-4s to all the jobs at the same time. Do one calculation, and then submit all new forms based on that calculation.