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Ray125
Returning Member

What do I claim on my W4?

Idk what to do bc I've always claimed 1 on my W4's. In October of 2021, I transfered to another location & reduced my hours. I told my new employer to put 1, but they put 0 I think? I make less than 1k a month now & I file single, no children.

I read that the Threshold is 12,500 before you have to claim? Is that true? I am low income & I don't want to end up owing the IRS for something that I'm not aware of. Please help, I need to know if I have to change my W4 back to 1 bc right now they're currently not taking out any FIT.

1 Reply
SoCalGal22
Employee Tax Expert

What do I claim on my W4?

The IRS replaced the old Form W4 with a new system beginning in 2020.

It’s easy to adjust your withholding.  You can do it on paper or electronically.  The old-fashioned way is to walk through the worksheets on the W-4 form.

An even easier way is to use the TurboTax W-4 Calculator.

https://turbotax.intuit.com/tax-tools/calculators/w4/

 

I find the TurboTax W-4 Calculator 2022 easier to use, and it will put in the best solution for you:

https://turbotax.intuit.com/tax-tools/calculators/w4/

Use this tool to:

  • Estimate your federal income tax withholding
  • See how your refund, take-home pay or tax due are affected by withholding amount
  • Choose an estimated withholding amount that works for you

Results are as accurate as the information you enter.

What you need:

  • Paystubs for all jobs (spouse too)
  • Other income info (side jobs, self-employment, investments, etc.)
  • Most recent tax return.

 

I hope that answers your questions. Please feel free to give TurboTax a call anytime if you have additional questions or need assistance.

 

Have a great day!

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