Job raise

[Vincent 2]

My company is giving me a raise at the end of the year. Do I need to adjust my W-4 or how will this affect my refund?

[marctu]

Thank you for the question, and congratulations on the upcoming salary increate.  Assuming, this is your only job, the tax withholding should adjust upwards based upon your increased salary later in the year.   Also as you will have less than a full year of increased salary even if there is a mismatch the result should not change much for 2024.  If you wind up owing money when you do your 2024 taxes in early 2025, you may adjust the W-4 in 2025 by adding additional tax withholdings in Part 4 (c), though I think this will be unnecessary.

Again congratulations @Vincent 2, and be well and safe.