Tax elections with 2 kids

The W-4 is the form your employer uses to determine how much federal income tax to withhold from your pay.  The W-4 form changed in 2020 to reflect changes in the tax law that took effect in 2018.  The 2020 form removes withholding allowances and aims to simplify the process of form completion and to improve tax withholding accuracy.

If you have not updated your Form W-4 with your employer since 2020, you may want to consider submitting a new form.  Doing so, may improve the withholding accuracy.

Below is a link to the revised W-4 and instructions.  Attention should be given to Steps 2 through 4.  Answers in these section will drive your withholding.

W-4