Tax Withholding Calculator

Source: IRS
Purpose of This Computer Program The purpose of this application is to help employees to ensure that they do not have too much or too little income tax withheld from their pay. It is not a replacement for Form W-4, but most people will find it more accurate and easier to use than the worksheets that accompany Form W-4.

You may use the results of this program to help you complete a new Form W-4, which you will submit to your employer.

Tips For Using This Program

• Have your most recent pay stubs handy.

• Have your most recent income tax return handy.

• Fill in all information that applies to your situation.

• Estimate values if necessary, remembering that the results can only be as accurate as the input you provide.

• Consult the information links embedded in the program whenever you have a question.

• Print out the final screen that summarizes your input and the results, then use it to complete a new Form W-4 (if necessary), and keep it for your records.

Who Can Benefit From This Application?
 

• Employees who would like to change their withholding to reduce their tax refund or their balance due;
• Employees 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);
• Employees 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.

For Special Situations If your situation is among those listed below, you will probably achieve more accurate withholding by following the instructions in Publication 919, How Do I Adjust My Tax Withholding?

• If you will be subject to alternative minimum tax, self-employment tax, or other taxes; or
• If any of your current jobs will end before the end of the year.