How to fill out a W-4 form (2024)

If you recently went through a major life change — like landing a new job or getting married — you’ll need to complete a new W-4 form. This federal tax document helps your employer determine the amount to withhold from your paychecks.

The IRS recently updated the form, so even if you’ve filled it out in the past, you may need an overview of how to complete it.

What is a W-4 form?

The W-4 form is a document that helps your employer determine how much to withhold from your paychecks for federal income taxes. You typically fill out one of these forms as soon as you start a new job or when you go through a major life change.

Completing the form accurately can help ensure you pay your taxes accurately throughout the year.If you overpay taxes during the year, you’ll get a refund; however, if you underpay, you’ll get a tax bill when you file your return.

Is there a new W-4 form for 2024?

The IRS routinely amends or changes its forms as tax laws change or evolve. Most recently, the W-4 form was updated in 2020.

“The updated form was intended to increase simplicity and accuracy of the form,” said Regina McCann Hess, a certified financial planner and president of Forge Wealth Management. “It also took away allowances that were used to calculate tax withholding since they are not available any longer.”

Where to find the 2024 W-4 form

The 2024 W-4 form can be viewed and downloaded on the IRS website.

It’s available in several different languages. The IRS also publishes information about the W-4 form to help you fill it out correctly. If you don’t have access to the online versions, you have other options for accessing IRS tax forms.

Your employer can also provide you with a copy as well.

How to complete a W-4 form

The W-4 contains five sections. The first and last sections are required, and you may skip the middle sections if they don’t apply to you. Here’s an overview of how to fill out each part:

1. Provide your personal info

The first step in completing the W-4 is filling out your personal information. You’ll provide your name, address, Social Security number and tax-filing status.

2. Report all of your and your spouse’s jobs

Step 2 of the W-4 focuses on people who work more than one job or are married filing jointly with a working spouse. If this step applies to you, then you can use one of the following three options to calculate your withholding:

• (a) Use an online estimator. The IRS’ online estimator can help you calculate the right withholding amount, which you’ll write on line 4(c).
• (b) Use the attached worksheet. Instead of using the calculator, you could use the worksheet attached to the W-4 to calculate how much extra should be withheld. You’ll enter the result on line 4(c).
• (c) Use a default rate. Check box 2(c) to indicate you have only two jobs (or you and your spouse have a total of two jobs). Your employer will withhold taxes at a default rate. This option works best if you and your spouse make roughly the same amount, though both of you will need to check the box on your respective forms.

The options (a) and (b) are great if you don’t want to reveal too much information about your secondary income to your employer. If you choose one of these options, you don’t have to do anything in this section.

Also keep in mind: You don’t have to factor outside income into your W-4. Instead, you could put aside money in a savings account and then send estimated tax payments to the IRS yourself.Or you can calculate how much extra you want to withhold from each paycheck and complete the extra withholding portion below in Step 4(c).

Option (c) is if you have a second job or your spouse works one job. If this is the case, you can check the box in this section.

Checking the default box might seem like the easiest choice. But your employer may withhold too much from your paychecks, and you’ll be due a tax refund when you file your tax return the following year.

“While a refund might sound great, in reality, you gave the federal government an interest-free loan that they are giving back to you,” said Kevin Curley, a financial advisor with Global Wealth Advisors. “It is best to try to be as accurate as possible with your withholding, and following the detailed instructions on the W-4 form helps you do this.”

3. Claim any of your dependents

You’ll complete this step if your total income is under $200,000 (or under $400,000 if you’re married filing jointly). Start by adding up the number of minor children you have and the number of other dependents. For instance, you might Then:

• Multiply the number of qualifying minor children by $2,000.
• Multiply the number of other dependents by $500.
• Add the amounts together, plus the amount of any other credits. Enter the total on line 3.

4. Add any adjustments

In this section, you can ask your employer to withhold extra taxes or note that you expect to claim deductions other than the standard deduction.

• Section 4(a). Enter the amount of income you expect to receive this year, such as retirement income, that won’t have taxes withheld. Your employer will figure out the withholding amount.
• Section 4(b). If you’re not planning to use the standard deduction and want to reduce your withholding, refer to the Deductions Worksheet on page 3. Enter the result on line 4(b).
• Section 4(c). Enter any additional amount you’d like withheld from your paychecks.

“I find that many people come back and update [Section 4(c)] of the W-4 when their original W-4 form did not result in enough withholding taxes from their pay,” McCann Hess said.

5. Sign and date

This part is simple but crucial: Sign the form and add today’s date.

Do I need to update my W-4 form every year?

You don’t need to complete a new W-4 every year, but you should “review your W-4 when you receive a substantial pay raise or bonus,” McCann Hess said.

Additionally, she says, you should update your W-4 after major life transitions such as getting married, going through a divorce and welcoming kids. You may also need to update the form when your children are no longer considered dependent.

You may also want to review it if you get a large tax refund or tax bill and make the necessary adjustments for the upcoming year.

How to change your W-4 form

You can change your federal tax withholding by printing out the Form W-4, filling it out and giving it to your employer.

For state tax withholding, you can contact your state’s tax agency for the form. Some employers also offer an online portal or app where you can log in and change the form details.

If you don’t have access to the online federal forms, you can request them on CD-ROM, through fax, over the phone and through the mail. You can also visit a local IRS office and participating banks, post offices, libraries, grocery stores, copy centers and office supply stores.

You can also ask the HR department of your employer for a form.

Other important information about the W-4 form

If you don’t complete a Form W-4 or you leave out important information, your employer is required to withhold federal income taxes as if you were single with zero allowances. This could result in having too much taxes withheld from your paychecks.

It might cause a headache at tax time. Using tax-preparation services like TurboTax, and Cash App can help you navigate the process.

Frequently asked questions (FAQs)