If your federal tax refund or bill is significantly different than expected, you might need to update your paycheck withholding. This article provides a simple calculation and guidance on using the IRS's free tax withholding estimator to ensure accurate withholding.
If your federal tax refund or tax bill is more than expected, you may need updates to your paycheck withholding.
The form"seems like a calculus problem," said Tommy Lucas, a certified financial planner and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida. But there's a"quick and dirty" way to figure it out, he said. For example, let's say your"total tax" was $10,000 for 2024. If there are 23 pay periods left in 2025, you'll need to withhold roughly $435 from each paycheck, Lucas said.
Tax Withholding W-4 Form IRS Tax Estimator Federal Taxes Tax Refund
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