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.

602

Employee Tax Expert

Jul 27, 2022 11:19:32 AM

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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What do I claim on my W4?