I just want to adjust the allowance numbers.
How do you do this?

Up until 2 years ago we were just getting a tiny return. We have had the jobs for a long time and just entered 2 allowances.
Now it asks for all these specific withholding dollar amounts for each job, this and that nonsense.
Just got our taxes done Owe nearly $9k this year. Turns out wife’s new job took out no Federal taxes.
So I had her print me out the W4 and it is some
crazy ass choose your own adventure saga to get to some $ amount.

I do Payrolls for about 150 employees for 5 small clients. I have only seen 1 of the new W4's completed correctly. To make it simple just multiply the allowances you want times $2000 & enter that on Step 3. Forget the other shit & just adjust the allowances as you used to do.

^^^^^^^^^^^^^^^
Yep.

I’m going through this now. Just started a new job this past year and just now finding out that they took NO federal tax out. WTF?

I’m pretty sure I screwed up the form.

What the hell is allowances? I have two kids. I left that section blank when I filled it out. Am I supposed to put $2000 x 2 = $4000 ? I dont understand this portion of the form and what it’s for.

My wife makes significantly more than me (8-9 times more) and the form on page 2 or 3 says I should withhold a couple hundred dollars extra per pay check.

Check four allowances and be done with it.

quote:

Originally posted by ZSMICHAEL:
Check four allowances and be done with it.

There is no line to enter a simple number of allowances that is all I want to do.
Every line wants a specific monetary value.

quote:

Originally posted by bubbatime:
I’m going through this now. Just started a new job this past year and just now finding out that they took NO federal tax out. WTF?

I’m pretty sure I screwed up the form.

What the hell is allowances? I have two kids. I left that section blank when I filled it out. Am I supposed to put $2000 x 2 = $4000 ? I dont understand this portion of the form and what it’s for.

My wife makes significantly more than me (8-9 times more) and the form on page 2 or 3 says I should withhold a couple hundred dollars extra per pay check.

You did not screw up the form. Whoever created it did and should be punched right in the mouth.

Talking to my tax guy everyone who has filed so far with him that has used this new W4 owes a ton of money.

How do you answer Step 3 on W4?
Image result for w4 step three
Step 3: Claim Dependents

Your number of qualifying children under age 17 multiplied by $2,000 will go into the first box. The number of other dependents multiplied by $500 will go in the second box.Feb 2, 2023

My wife had to fill out the 'new' W4 for a new job...It's like filling out a tax return!

https://www.irs.gov/pub/irs-pdf/p15t.pdf

The irs Publication T details what the withholding tables will deduct for each filing status. There is a pretty big difference for each status with or without the check box. Starting on page 13 are the tables. Find the correct table by payroll frequency and the look at the filing statuses based on you payroll amount for that period. It will give you the withholding amount for each status with and without the check box.

We have had quite a few employees who had to pay a good amount because they did not check the box. Most have came back and corrected.

quote:

Originally posted by ZSMICHAEL:
How do you answer Step 3 on W4?
Image result for w4 step three
Step 3: Claim Dependents

Your number of qualifying children under age 17 multiplied by $2,000 will go into the first box. The number of other dependents multiplied by $500 will go in the second box.Feb 2, 2023

Step 3 specifically says to only fill that out for 1 job.
This W4 is job number 3 which is the least paying job.

Just do the best you can and send it in. Corrections if needed can come later. Not worth your effort

They got Al in 1931.
“They can’t collect legal taxes from illegal money” was sentenced to 11 years in prison for failing to file tax returns.

Taxed til ya die, & maybe some after death!

^^^^^^^^^^^^^
Poor analogy. You are scaring the guy. This is purely a guesstimate. This is not a return.

The absolute best way on this is to just get a decent tax software program (cheap and there are online free ones) put a dummy return into it with everything you know and then have it spit out the tax owed. USE that number and just put in a specific amount on the form. Done and noone has any issues for the future.