Thank you for asking! I recommend using our W-4 Calculator at https://turbotax.intuit.com/tax-tools/calculators/w4/, which will indicate how you should complete your Form W-4 to accomplish the amount of withholding you want to choose.
Any time you adjust withholding, it is a good idea to double-check the amount of tax you expect on your return, which you can do by using our Taxcaster calculator at https://turbotax.intuit.com/tax-tools/calculators/taxcaster/.
Hello there!
I would recommend doing a few things, estimating your taxes with the tax caster: https://turbotax.intuit.com/tax-tools/ to determine with where you are right now, how much of your withholding you would be getting as a refund. Then, with your most recent paychecks, fill out Form W-4. I'm not sure if both you and your spouse are employed or not, but if so, you would fill out all sections of the W-4. With all sections filled out, it will adjust your withholdings accordingly, which sounds form what you are saying, could be a reduction in your withholding. This article may be helpful as well: https://turbotax.intuit.com/tax-tips/irs-tax-forms/form-w-4-and-your-take-home-pay/L4VSEhPez . Just remember, if you live in a state that also has income taxes, you might want to check their credits and write offs as well. It may be different then federal.
Thank you for allowing the opportunity to answer your question!