Taxpayer can use the IRS Withholding Calculator to help them determine whether "they need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate to avoid having too much or too little Federal income tax withheld from your pay."
Taxpayers can use these results from the calculator to help fill out the form.
Who Can Benefit From The Withholding Calculator?
1. Employees who would like to change their withholding to reduce their tax refund or their balance due;
2. 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);
3. 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.
How can Access the IRS Tax Withholding Calculator?
Taxpayers can access the IRS withholding calculator by clicking the following link below.
2013 Withholding Calculator
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