IRS Withholding Calculator
Did you end up with more taxes due, or too big of a refund last year
IRS Paycheck Withholdings Tax Calculator
Use the IRS withholding calculator to determine paycheck exemption changes
If you're an employee, the Paycheck Withholding Calculator can help you determine whether you need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate to avoid having too much or too little Federal taxes withheld from your income on your paycheck. Calculator results will help you fill out the form.
How can the Paycheck Withholding Calculator Benefit Me?
The IRS withholdings calculator can benefit you:
If your an employee who would like to change their withholding to reduce their tax refund or their balance due
If your an employee whose situations are only approximated by the worksheets on the paper W-4 (e.g., anyone with concurrent jobs, or couples in which both are employed; those entitled to file as Head of Household; and those with several children eligible for the Child Tax Credit)
If your an employee with non-wage income in excess of their adjustments and deductions, who would prefer to have tax on that income withheld from their paychecks rather than make periodic separate payments through the estimated tax procedures.
CAUTION: If you will be subjected to the self-employment tax, alternative minimum tax, or other taxes; or if any of your current jobs will end before the end of the tax year, you will probably get a more accurate withholdings calculation by following the instructions in IRS Publication 919, How Do I Adjust My Withholding Tax?
Tips For Using The Withholdings Calculator
Have your most recent income tax return handy.
Have your most recent pay stubs handy.
Estimate values if necessary, remember withholding calculator results can only be as accurate as the input provided.
Changing Paycheck Withholding Exemptions
You are not chained to your current paycheck withholding amount.
Use your results from the withholding calculator to help you complete a new Form W-4 Employee's Withholding Allowance Certificate.
Then submit the completed form to your employer.
You May Want To Change Your W-4 Payroll Withholding Exemptions If:
You got a second job so your income is going up. In this case your tax liability will likely increase as well.
Your spouse got a job or changed jobs and this changes your household income. If income went up or down, you should adjust accordingly.
You’re unemployed part of the year and get laid off from your job for a duration, you may have paid more in than you need.
You get married or divorced and have changed to or from filing jointly. In this case you should adjust W-4 allowances or withholdings will be off.
You have a baby or adopt a child in which case you can claim an additional allowance for a dependent and could qualify for the Child Tax Credit. These allowances could allow you to reduce withholding to account for added tax benefits that you will now receive.