Question

New employer

Forum|Forum|3 years ago
May 24, 2023
1 reply
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I recently switched jobs and had to complete a new w2. In step 3 I have to multiply the number of qualifying dependents by $2000 which is new to me. I don’t feel my employer is taking out a sufficient amount in federal taxes. How do I ensure that is being done?

Ask the Experts - W-4 - May 2023

ZeeEA20

Hello @Lbarnett0818

Filling out the W-4 only tells your employer how much money to withhold from your paycheck on the federal end. You fill it out as accurately as possible and that should make sure the amount withheld is close enough to what is needed for the federal return.

Step 3 of W-4 form Claim Dependent and other credits has two parts: depending on the age of children you will either claim $2,000 per dependent or $500 per dependent.

If you feel your employer is not withholding enough, you can always add extra withholding in Step 4 under line 4c.

Please use this W-4 Calculator for your convenience:

W-4 Calculator

W-4 Form IRS

Thank you for using TurboTax!

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L

Lbarnett0818Author

I have never had to withhold any extra before. The $2,000 aspect is what is confusing to me. What is the federal income tax for someone that makes $52,000 per year?

JBedford

There is not a simple answer to that question, as it depends upon many factors, including what deductions you might be eligible for. You might find our free Taxcaster tool helpful, however!

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