I'm getting married in less than 60 days before end of calendar year? Can I change my W-4 status to married now since I'll be filing Married-Filing Jointly for the 2017 tax year?
You can change your status on the W-4 you give to your employer for tax withholding at any time. The status that you choose on a W-4 has absolutely no bearing on what your filing status is on a tax return.
Maybe I chose the wrong wording. Will I be penalized at all come tax time if I change my W-4 to married now so they withhold less tax, since I'll be filing married for the year?
There is no penalty for changing your W-4, that is your choice.
The issue is if you will both have enough taxes withheld when you file as Married Filing Jointly for 2017 so that your total tax payments will be equal to or greater than your total tax liabilities.
You can use the TurboTax W-4 withholding calculator - <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tools/calculators/w4/">https://turbotax.intuit.com/tax-tools/calculators/w4/</a>
The IRS W-4 withholding calculator - <a rel="nofollow" target="_blank" href="https://www.irs.gov/individuals/irs-withholding-calculator">https://www.irs.gov/individuals/irs-withholding-calculator</a>
You can also use the TurboTax calculator TaxCaster to get an estimate of any tax refund or taxes owed when filing your return as MFJ with your incomes and current tax withholding - <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tools/calculators/taxcaster/">https://turbotax.intuit.com/tax-tools/calculators/taxcaster/</a>