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Frequently asked questions
Where did allowances go? Why are they no longer included?
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?
- Use the W-4 calculator to adjust your withholdings and determine how to fill out your W-4.
- Once you’re ready to update your W-4, reach out to your employer or download and print a blank
- Submit it to your employer as soon as possible. It could take up to a few weeks for adjustments to be reflected
on your paycheck.
Do I need to fill out a new W-4?
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.
How should I fill out my W-4?
The W-4 calculator can help you adjust your withholdings to determine if you’ll get a refund or a balance due come tax time. Once you’re happy with your projected outcome, the W-4 calculator will show how to fill out your W-4. Depending on your employer, updates to your W-4 could take a few weeks to be reflected on
How do I adjust my W-4 to get a refund at tax time?
It’s important to remember that getting a tax refund means you paid too much federal income to the IRS during the year, so you are owed money. If you are seeking a bigger refund come tax time, the simplest way is to update your W-4 to have more money withheld from your paycheck. The W-4 withholding calculator can help you determine how to adjust your withholdings. The less your take-home pay, the bigger your refund will be. However, it’s possible to maximize your paycheck amount and still get a tax refund. Learn how
More about your W-4
Top 5 Reasons to Adjust Your
Common life events can change your tax liability. To avoid being caught off guard, you'll need to adjust your withholdings on your paycheck.