For just me and my wife I currently have elected single and number of allowances zero. I would like to edit this so I will get more money back each pay and less of a refund at the end of the year. Do I start with editing the single to married or number of allowances from 0 to 1? Which is better?
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The W-4 form was revised a few years ago and no longer uses allowances. The new form works differently. Use the Tax Withholding Estimator on the IRS web site to figure out what to put on your W-4 form. It will show you how to adjust your withholding to get the approximate refund amount that you want.
I tried to use this but struggled with it. I have my Pay information pulled up. Can someone assess me completing this/using this tool?
No one here in the community forum can help you with it. See if the TurboTax W-4 Calculator is easier to use.
If you still have trouble, you may want to consult a local tax professional for help.
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