EDIT: I AM A DUMB -- used total tax taken out of paycheck, not just the income tax... Now calculator says 4 allowances, not 2. I also dun goofed and way overestimated the amount of money I will gross this year (I forgot end of July = basically August, = basically 8 months in). I don't know who let me become an adult, but they need to raise their standards!
I'll leave this post up as a memory of my dumbness. Enjoy.
I started a job in July, and used the paper worksheet for my w4, and came up with 2 allowances (one for myself, one because I'm single and have one job). I got curious and used the IRS's withholding calculator, and it's telling me I should claim 17 allowances. I made sure I got my gross right, pay frequency, tax witheld to date, tax witheld from last paycheck, etc.
How did I manage to come up with wildly different numbers? Should I adjust my W4? (I'm not hurting for the money right now, and do like getting refunds after filing).
Is there any penalty for adjusting it, especially by this much?
Submitted September 21, 2018 at 12:54AM by _Magnolia_ https://ift.tt/2xsHjwk
