Adjust Your W-4 Form(s)
There are multiple ways to go about creating your W-4. 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 individual income tax returns. The way the W-4 Form is designed does not give you any information on the implications it has on your next tax return. Thus, we at eFile.com have added this via the W-4 Adjust tool where we provide you with the actual tax withholding amount. If you do not want to include this, simply use the W-4 Basic as it is a straight online tool to just fill out the W-4 without any calculations like most other tools are on the Internet.
The W-4 Adjust tool on this page is tailored for taxpayers to adjust their W-4 during the current calendar year based on their latest tax return or 2022 tax return that was due in 2023. If your 2023 tax return will not change significantly compared to the 2022 return then use this W-4 adjust tool.
If you do not need any year over year comparison, then use the W-4 Basic tool to create your W-4.
The information you put on a W-4 Form is fairly straightforward, but it can be difficult to calculate the best values. The tool below will help you determine these figures based on your goals to help you complete a W-4. You can submit this to your employer and submit or change your W-4 as many times as needed to get your withholding to where you want it.
Create W-4 based on A Tax Return
We suggest you only use previous or latest year tax return data. If you wish to create a W-4 based on your current year estimated income, use the W-4 Pro tool. If this is all too complicated - which it can be, unfortunately - contact an eFile.com Taxpert® with questions about your W-4 as this is the most important form for you to manage your tax return goals.
- The best time to adjust a W-4 is early in a given year as you can distribute the tax withholding throughout the year.
- This tool factors in when you adjust a W-4 during the year and the tax withholding results will be based on the remaining time until December 31 or until you submit a new W-4.
- All you need is the Form 1040 of your previous or last Tax Return - ideally, your 2021 Tax Return. Your latest submitted W-4 for the given job is also helpful so you can compare your new form with the previous W-4 form.
Once you have completed your W-4, submit this to your employer. This only adjusts your federal withholding amounts; if you need to adjust your state tax withholding, select your state from the state W-4 page and find forms to do so. To see how optimized your withholding is, prepare and e-file your taxes on eFile.com and see how tax balanced you are; your W-4 is your planning tool that allows you to keep your money during the year rather than hand it over to the IRS and state only to get it back as a refund.
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