Yes, you need to update your W-4 with the employer. You can choose to use Single since the incomes together are creating a higher tax bracket, or use the method below without changing any selections on your W-4 as it is right now. You are allowed to change your W-4 as many times as you like during the year and your employer(s) must make the requested changes.
If you believe you will earn approximately the same amount then you can make an easy change to the W-4 for your spouse.
- Take the amount of the balance due on your 2023 tax return, divide it by the number of pay periods that remain in 2024 then enter that amount as an additional withholding on line 4c.
You can decide to increase it or decrease it but this amount will put you very close to even for your 2024 tax return without having an excess amount of withholding. It's important to note this amount will reduce your current net pay each pay period.
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