Question

What does withhold tax mean and how much should I put down in my w2? I tend to get a lot back for my tax return and i'd like to get more per paycheck.

Forum|Forum|6 years ago
February 23, 2020
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Withhold tax is the Federal and/or state tax that is subtracted from your paycheck by your employer. The withholding amount is then submitted to the government on your behalf and when you file your return it is compared to the amount of income tax that you owe. You then get a refund of any excess withholding, or you may owe some additional tax if not enough was withheld.

TurboTax can help you determine what amount to tell your employer to withhold from your W-2 based on the information in your return. See the following TurboTax article for instructions: How do I update my 2020 withholding and print a new W-4?

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