W-4 Form Pro Calculator
This is the W-4 Pro tool, one of four eFile.com W-4 tools designed to help you create W-4 Forms based on estimates of the current year or future tax years. With the W-4 Pro tool, you estimate a tax return for a tax year and, at the end, it will create the W-4 for you. Creating a W-4 without integrating your tax return is a bit like planning a road trip without means of transportation and destination. On top of that, the way the W-4 is designed is, to put it politely, confusing and complicated.
Compare these four W-4 tools and decide which one is best for you.
- W-4 Basic: Create a W-4 PDF form without any calculations or estimates. This is your standard form without any destination in mind. Recommended only for driverless, thoughtless, or planless tax withholding. This is helpful to create a basic W-4 quickly and easily to give to your employer - we get IT!
- W-4 Adjust: Adjust a previously created W-4 based on your 2020 Tax Return or 2021 Tax Return results (in 2022). Recommended for planning the future based on the past.
- W-4 Check: Create a W-4 form based on your current paycheck and monthly IRS tax withholding expectation. Pick your latest pay stub and enter the data on the eFile.com PAYucator. Then, either create your W-4 or adjust your IRS tax withholding before you create the new W-4 Form. You can sign and either email the form to yourself and/or your employer.
Your information will not be stored and is only used to create the W-4.
W-4 Planning, Creation by Tax Year: Start W-4 Pro
Select a tax year and keep estimating or planning before you create and plan your tax withholding. Keep in mind, a W-4 is completed for each individual job separately in case you and/or your spouse have more than one job at any given time during a tax year.
Adjust your W-4 as early in the year as possible! Later in the year, and depending on your last year tax return results (refund amount or taxes owed), you might only have limited time left to adjust your 2021 withholding.
Early 2022 is the best time to plan your W-4(s) for the year either based on your 2020/2021 Tax Return results or your 2022 estimates.
- Keep in mind that if you do not expect any significant changes, e.g. number of jobs at any given time or the addition of self-employment income with no tax withheld, you can use the W-4 Adjust tool as it's best tailored for this scenario.
- You have an entire year to plan based on your 2022 tax return goals. For example, in case of an expected refund: lower your refund and increase your net paycheck.
- In case of taxes owed, add an additional tax withholding amount per paycheck so you will not owe or owe less with the next tax return. Manage your next year tax refund or taxes owed now and create your W-4. This tool incorporates sound financial tax planning goals.
Jan. 1 - Dec. 31, 2023 Plan for 2023 Taxes
W-4-Pro available in Jan. 2023
Learn from your W-4 planning results of previous years. Monitor your tax withholding listed on your paycheck(s) and add up the estimated annual withholding and compare it to the estimated tax return results. You can also use a the eFile.com Paycheck Calculator
and estimate your own paychecks.
- Note: The 2023 tool will be updated starting in July 2022 as new federal tax tables become available.
Currently, we do not have the same withholding tool for the states as we do for the federal W-4 form. As state forms vary from state to state, we suggest you lean on the W-4 form you created on eFile.com. See the state related W-4 or tax withholding from by state
. Once you click on the form, you can complete it online; like the federal withholding form, you can generally submit multiple state withholding forms to meet your tax return goals so you get to keep more of your money with each paycheck.
We sympathize with you: If you think that completing a W-4 Form is worse than a dental root canal procedure, we totally get IT! Unfortunately, we do not do root canals, only W-4 forms and income tax returns. If you wonder why the W-4 is so complicated, you are not alone!
- The W-4 Pro Calculator is the most advanced and accurate planning tool to optimize your W-4(s) as it is based on your estimated or actual 2021, or estimated 2022, 2023 tax return. Its recommended use is for future estimates that are significantly different from the past, e.g. multiple jobs at any given time or higher than expected other income (without tax withholding). Filing status, number of dependents, or W-2 job related income increases are not considered significant changes for this exercise.
Just to refresh this point again, your tax return refund is your money in most cases- not money handed out to you by the federal or state government - as the result of too much federal and/or state tax withholding per paycheck. A tax refund is primarily not like the stimulus payments paid out through 2020 and 2021.
- The best time to adjust a W-4 is early in a given year as you can distribute the tax withholding throughout the year and thus plan your next tax return. Having said that, this tool will factor in the date during a tax year when adjusting the W-4 and the tax withholding results will be based on the remaining time until December 31. It's important that you then re-adjust your W-4 again in the new year as needed.
- The tool will guide you through what to enter and where. As always, contact an eFile.com Taxpert® if you have questions about your W-4 as this is the most important form for you to manage your tax return goals.
TurboTax® is a registered trademark of Intuit, Inc.
H&R Block® is a registered trademark of HRB Innovations, Inc.