How to update W-4

[Monica02]

The first time I filled out the new W-4 form I had no idea what to do and now it's been 2 years that I've owed taxes. I want to update it so I don't have to pay anything when it's time to file. I work 2 jobs and I need help updating my W-4s. 

[conniem123]

Hi Monica02,

I hope you are having a good day!  It is not fun to owe taxes when you file your tax return.  You can use the TurboTax tool to prepare a Form W-4, 

TurboTax's W-4 Calculator

Once you complete the form, give it to your employer. Then, keep a close eye on your next few paychecks to see how the changes impacted your federal income tax withholding.  If there is still not enough federal tax being withheld, you can add an Extra withholding amount per pay period on the Form W-4 Step 4(c).  

If you expect 2023 tax year to be similar to your filed 2022 tax return, you can refer to your 2022 tax return to see if enough is being withheld by reviewing your paystub.

I hope this is helpful!

[ZeeEA20 · Accepted solution]

Hello @Monica02  

To calculate for multiple jobs the easiest way to do that is to use TurboTax's W-4 Withholding Calculator . It will walk you through a series of questions about your income, tax deductions, and credits, and it provides instructions for completing Step 3 and 4 of the form.

Just remember, while you need to fill out a W-4 for each employer you work for, you should only complete Steps 2 through 4 for your highest paying job. For other jobs, leave those steps blank.

If the W-4 withholding calculator shows balance due, you can always have extra withholdings taken out of your paychecks by adding additional amount on line 4c of your W-4 Form. You can update your form any time with your employer.

Hope this helps!

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