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W-4 Forum Question

Hi again:

 

I completed the W-4 calculator information that was sent to me, but I am confused, the 2024 Estimated Payment is -3,772.00, it's asking me to claim on the W4 line 3- $0.00 as well as 4a & 4b on the form $0.00.  Is this taking the maximum amount of taxes if I update the W4 form.  I wanted to see what that tax would look like.

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2 Replies
Gabriella_EA
Employee Tax Expert

W-4 Forum Question

Hi @BC-87!

 

So it sounds like the IRS estimator tool is reflecting that you're expected to owe $3,772 if you don't make any changes, is that what you're seeing? You'll want to use the slide bar to adjust until you get to the bottom-line result you want, and then use what it tells you in the "How to Adjust Your Withholding" section to fill out the W-4 lines 3-4. At the very top when you finish up the IRS tool, it shows you your Anticipated Tax Obligation. This is your expected tax liability for 2023.

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rschule1
Expert Alumni

W-4 Forum Question

Hi there:

 

Results seem off. I recommend running the numbers through TaxCaster downloadable App, and then do a comparison.

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