Want to go back previous deductions

Forum|Forum|2 years ago
May 29, 2024
1 reply
36 views

Hello, I recently changed my deduction status to exempt so I could maximize on a bonus. Stupid as it was I went to change it back and the form was different. I used to claim 4 (Myself, Wife and 2 kids) I am not able to select four anymore and tried the calculator from IRS and now my federal tax is pennys. What can I do to get close to amount withdrawn to what I was before I stupidly made the change.

Ask the Experts - W-4 II - May 2024

tulipan

Level 5

Hi JKirby79!

Thanks for your question. I suspect that you are wanting to go back to a Form W-4 which you filled out and supplied to your employer prior to 2020, when the W-4 form changed by removing personal exemptions, among other changes.

In order to accurately inform your employer as to the appropriate federal income tax to withhold, I recommend that you use TurboTax's W-4 Calculator to determine how you should fill out a new W-4 to give to your employer. At the bottom of the calculator page, you'll be able to print a blank Form W-4 which you can fill out and provide to your employer based upon the information supplied by the W-4 Calculator. If you have any questions about how to answer the questions in the calculator, feel free to post another question here.

I hope this is helpful!