W-4 Withholding Calculator
New & Updated for Tax Year
Your W-4 tells your employer how much tax should be withheld from your paycheck. Use our
W-4 withholding calculator
to decide if you want to boost your refund amount or increase
your take-home pay.
Feeling good about your numbers?
Take these steps to fill out your new W-4
Fill in the fields using the
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Give it to your employer
Questions about your W-4?
Check out these helpful answers
Where did allowances go? Why are allowances no
One of the biggest changes on the redesigned W-4 form is the elimination of personal withholding allowances. Instead, the form uses a 5-step process and new Federal Income Tax Withholding Methods to determine actual withholdings. In the past, the value of withholding allowances was also tied to personal and dependent exemptions, but those exemptions were eliminated under The Tax Cuts and Jobs Act signed
How does your W-4 affect your take-home pay?
IRS Form W-4 is completed and submitted to your employer, so they know how much tax to withhold from your pay. Your W-4 can either increase or decrease your take home pay. If you want a bigger refund or smaller balance due at tax time, you’ll have more money withheld and see less take home pay in your paycheck. If you want a bigger paycheck, you’ll have less withheld and have a smaller refund or larger balance due at tax time.
How do I adjust my W-4 withholding?
You can use the TurboTax W-4 withholding calculator to easily walk you through your withholding adjustments and help you fill out IRS Form W-4 Employee Withholding Certificate. Be sure to have information regarding your income, dependents and any additional items worth valuable deductions and credits, including education expenses and itemized deductions with you when you sit down to use the TurboTax W-4 withholding calculator.
How do the 2020 IRS changes to the W-4 impact me?
When you use the redesigned Form W-4, your withholding is based on your expected filing status and standard deduction for the year. The new redesigned Form W-4 makes it easier for you to figure out your withholding, especially if you have income from multiple jobs, itemized deductions, the child tax credit, and other tax benefits.
Do I need to fill out a new W-4 Form?
The IRS is not requiring all employees to complete the new 2020 Form W-4. If you have no changes in your current situation, you may not need to file the new IRS Form W-4. The IRS designed federal withholding tables to work with both the new version of the form and existing withholding calculations from prior years. The only employees required to fill out the form are new employees and employees who want to change their withholding. If you are impacted by tax law changes, your personal situation changed, you started a new job, or you didn’t see the outcome you expected when you filed your 2019 taxes this year, you should fill out the new
How does my W-4 affect my paycheck and tax outcome?
Your W-4 is used by employers to determine the amount of income tax withheld from your paycheck. The new IRS form W-4 for 2020 was released in early December 2019 to reflect tax code changes. It’s important that you fill out this form correctly to either help keep more money in your paycheck, or to get a bigger refund when you file your 2020 taxes
To learn more about changes to the W-4 and how it affects your taxes (and your take-home pay), check out the articles below or use our withholding calculator above:
Ways to Increase Your Tax Refund You
Reviewing your tax status, consulting your spouse when filling out your W-4s and taking advantage of several tax credits can help you increase your tax refund.