Income Taxes with more than One W-2

[Kirubim]

Hello, I had three (3) W-2's last year and will have the same this year. My income will be slightly higher this year. My taxes due for 2022 were really high, how do I reduce or make sure I will not owe taxes for 2023?

[rjs]

You can use the Tax Withholding Estimator on the IRS web site to figure out how to adjust your withholding to get the approximate refund amount that you want.

[tbrown25 · Accepted solution]

To best determine how much you should be withholding from your paycheck, you can use this W-4 Calculator .  You may want to review your current paystubs to see if the correct amount of taxes are being withheld. 

If you determine that your withholdings are too small, you could submit a new w-4 to your employers.  

here is an link to the explanation of the  w-4 https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-w-4-form/L2NapDzX2. 

You can also use our tax refund estimator to find out how much you'll get back this year (or how much you’ll owe) TaxCaster Tax Calculator   if your outcome is taxes owed, you can calculate additional withholding on your W-4 form on line 4c.  You can update your W-4 form any time during the year.

Hope this helps!