Employee Tax Withholding Calculator
Employees can use this Withholdings Calculator to help them determine whether they should give their employer a new Form W-4, Employee's Withholding Allowance Certificate to correct having too much or too little federal income taxes withheld from their paycheck.
With the results from the calculator below you can fill out a new W-4, Employee's Withholding Allowance Certificate form to submit to your employer and change the amount of taxes being withheld from your pay.
Making adjustments to your withholding will help you simplify your online tax return filing by keeping you close to even at year end with the IRS. That certainly is better than finding out you have a big end of year tax bill, isn't it? I thought so!
IRS Federal Income Tax Withholding Calculator
Who Should Use The Withholding Calculator?
Employees wishing to reduce their end-of-year tax refund or tax due balance.
Employees with approximated job situations per paper W-4 worksheets
Tax filers with concurrent jobs
Couples that are both employed
Head of Household tax filers
Taxpayers with several children eligible for the Child Tax Credit
Employees with non-wage income in excess of their adjustments and deductions, that prefer to have additional tax withheld from their paychecks instead of making periodic separate payments through the estimated tax procedures.
How To Adjust Your Paycheck Withholding
Instructions on Publication 919 for Adjusting Your Tax Withholding can help you calculate more accurate withholding exemptions if any of the following apply to you.
- You're subjected to the alternative minimum tax
- You're subjected to self-employment tax, or other taxes
- Your current job or jobs will end prior to year end
Have the following information handy to use the withholdings calculator
- Your most recent employee paycheck stubs
- Your most recent federal income tax return
Estimating income can get you a ballpark figure but remember that any results will only be accurate to the extent of what you put in.