Incorrect tax withholding

Forum|Forum|2 years ago
April 3, 2024
8 replies
86 views

I changed my W-4 form to "married filing jointly" for 2023 and I noticed that federal tax withholding for 2023 was lower compared to 2022 and thus I am due a significant amount of tax to IRS for 2023. I've verified that I fall within the same tax bracket whether filing as a single individual or as part of a married couple filing jointly. Thus, I'm unsure how my marital status affected the tax bracket. Additionally, what adjustments should I make to my W-4 for 2024 to prevent encountering this issue in the future.

DawnC

Level 15

Does your spouse also work? If you have married filing jointly marked on multiple w-4s, you will not have enough tax withheld. There is a section of the w-4 that allows you to adjust for multiple income situations. Section 2 of the W-4 has instructions for situations where you have multiple jobs or your spouse works.

You only get one standard deduction. If you have multiple jobs and your other employer does not know about the other job, not enough tax will be withheld. See Why does my refund drop when adding a second w-2?, specifically the part about withholding credits and how to adjust the w-4s.

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dbeast53Author

Level 2

Yes, my spouse also works, and we don't hold more than one job each. Should I do 2c then? Also, how changing to "filing jointly" could have led to less tax withholding for 2023?

DawnC

Level 15

You can adjust your withholding however you like. Although you can request the form you gave to your employer, your employer will just have you fill out another one. You can print a blank form from the IRS or ask your employer for one. Either way, give them a new form with your updated selections; you can change/update your W-4 multiple times a year if necessary.

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