W-4

Forum|Forum|2 years ago
May 29, 2024
2 replies
11 views

I need to know how to fill out the W-4 correctly so that the correct amount of Federal taxes are taken out.

Ask the Experts - W-4 II - May 2024

Anonymous_

Level 15

Have you tried the IRS withholding estimator?

https://www.irs.gov/individuals/tax-withholding-estimator

evelynm

Employee Tax Expert

Annualize your income and use TurboTax's W-4 withholdings calculator: https://turbotax.intuit.com/tax-tools/calculators/w4/

The tax withholdings calculator will estimate the results of your taxes so you can adjust your withholdings accordingly.

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KimberW

Level 5

The best way to fill out the current version of the W-4 is to use the TurboTax W-4 Calculator or the IRS Tax Withholding Estimator. Both of these tools will ask you for information from your most recent pay stub (to get year-to-date information) as well as what you expect to happen with your paychecks for the rest of the year.

You'll enter information for all jobs that you have (or have had) during 2024, the number of dependents that you have, whether you have any other income or deductions, etc. Then the programs will provide you with the information necessary to fill out the W-4s for each job -- or even a PDF version that you can give to your employer.

Make sure to check for the equivalent of a W-4 form for your state withholdings as well. That is often a separate form with its own instructions.

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evelynm

Employee Tax Expert

Here is a link to the state agencies if you need to adjust your applicable state withholding: https://quickbooks.intuit.com/learn-support/en-us/help-article/payroll-compliance/payroll-tax-compliance-links/L0H0Syx14_US_en_US

Have an amazing day. Evelyn M (CPA 20+ years). I would love a thumbs up :) + Mark the post that answers your question by clicking on "Mark as Best Answer".