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Solved

Forgot to update W-4 For this Year

2 replies
43 views

I forgot to update my W-4 for this year and to my surprise I was hit with a Federal Income Tax deduction of $600 for this week's pay statement. That deduction did not appeared on my last pay statement. I have since updated my W-4. Is there anything I need to do or worry about? I'm assuming I will just a have a bigger tax return for next year or pay less in tax.

Alumni - Intuit

There isn't anything you need to do or worry about from a tax perspective. Depending on your income for the year, your withholdings will be applied toward any tax you owe and will determine if you receive a refund or have a balance due.

You could consult your employer to see if they can make any adjustments to your previous payroll.

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Level 15

your paystub shows your periodic and year to date withholding.

your estimated tax (zero, so far) and withholding (from payroll) has to add up to at least 90% of your 2023 tax.

Alumni - Intuit

There isn't anything you need to do or worry about from a tax perspective. Depending on your income for the year, your withholdings will be applied toward any tax you owe and will determine if you receive a refund or have a balance due.

You could consult your employer to see if they can make any adjustments to your previous payroll.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"