IRS Withholding Calculator

Take a moment to ensure you are paying the correct amount of taxes each paycheck so you do not owe money at the end of the year OR unnecessarily lend your own money to the government (why get a refund at the end of the year when you can invest that money in an interest bearing account?).

This calculator is for employees that receive regular paychecks and a W-2 at the end of the year, not independent contractors. It is very easy to use, and should only take 10 – 30 minutes to fill out.

Needed Paperwork

To use the calculator you will need the following:

  • Most recent pay stubs
  • Know your pay frequency (how many times a month you receive a paycheck)
  • Amount of unemployment compensation received or expected this year, if any
  • Amount of dividends, interest and alimony you expect to receive this year, if any

Most recent federal income tax return will help to fill in or estimate:

  • Filing status
  • Dependent status
  • Credits you may take, such as the Child Tax Credit
  • Deductions – medical/dental expenses, taxes paid, interest paid, charity, etc.

Calculator Tips

  • Use the links in the program for explanations and helpful information
  • Fill in the information that applies to your situation only, leave the rest blank
  • Guesstimate (as accurately as you can) when necessary, but final results are only as accurate as the information you put in
  • Save the final results and use it to complete form W-4 or check your form

Use the tax-withholding calculator now.

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About Arden Lux Lane

My name is Arden Lux Lane and I run The QuickBooks Resource. I am also the owner of Lux Bookkeeping and have been using QuickBooks since 2001 and helping small businesses since 2006.

Lux BookkeepingBizarre as it may sound, I actually enjoy accounting and helping small business owners get the most out of QuickBooks.

Learn more about Arden Lux Lane.