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How do I correctly adjust my w4 so I can receive full refund at end of year?

 
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3 Replies

How do I correctly adjust my w4 so I can receive full refund at end of year?

A full refund of what?  You don't always get back all your withholding.  You only get a refund if you had more withholding than the tax due on your income.  And you might have other income that doesn't have tax withheld like interest.  

How do I correctly adjust my w4 so I can receive full refund at end of year?

@VolvoGirl The W4 forms were changed in January of 2020 to help individuals withhold federal income tax more accurately from their paychecks.(which I was not aware of) So I was not getting as much taken out in taxes in my paychecks. Therefore, I received $0 back for my refund this year. Last year I did not get nearly much as back either. My question is, how do you correctly adjust the tax withholding in the new W4 so I can receive a refund at the end of the year. Or is it even worth it to change if Im getting more in my paychecks anyway.

How do I correctly adjust my w4 so I can receive full refund at end of year?

It's up to you but I vote for more in your paychecks.  Don't let the IRS hold your money all year.  It's like giving them an interest free loan.  

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