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wagnat-24
February 17, 2023
Question

I have filed my taxes for 22 & need to update my w4 withholdings. I will not be itemizing in 2023, and want to avoid a huge tax bill and possible penalties in 2023.

  • February 17, 2023
  • 1 reply
  • 0 views
Turbo Tax has calculated my estimated balance due for 2023, but I'm not sure whether it is based on standard deduction or itemized deductions as we did in 2022.  I need a more predictable method of estimating my taxes for 2023

1 reply

CatinaT1
CatinaT1
February 17, 2023

As part of the Tax Cuts and Jobs Act, the IRS and Treasury adjusted the tax withholding tables, which affects the amount of income taxes withheld from your pay.

 

My suggestion is to use the IRS Tax Withholding Estimator here.  

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