No w2 is the tax document, w4 is what you fill out with your employer. If you owe at the end of the year and that is your only job I would highly suggest going to your employer and updating your w4. You should be able to update your state as well. There is a tool on irs.gov called the Tax withholding estimator which can tell you exactly how much you should be taking out.
But isn’t that the whole point?? If I put zeros on my w4, why the fuck do I have to use another tool to calculate what I’ll be taxed, then add an additional withholding to make sure I don’t end up with a tax bill in April?
Because putting 0 on your w4 when you know you have to pay taxes is a mistake. The tool is there to help you calculate. It’s not difficult, you just take your last pay stub and plug in numbers then it does the rest. Could it be easier sure. But this is how you work with the tools we have.
No w2 is the tax document, w4 is what you fill out with your employer. If you owe at the end of the year and that is your only job I would highly suggest going to your employer and updating your w4. You should be able to update your state as well. There is a tool on irs.gov called the Tax withholding estimator which can tell you exactly how much you should be taking out.
But isn’t that the whole point?? If I put zeros on my w4, why the fuck do I have to use another tool to calculate what I’ll be taxed, then add an additional withholding to make sure I don’t end up with a tax bill in April?
It’s insane.
Because putting 0 on your w4 when you know you have to pay taxes is a mistake. The tool is there to help you calculate. It’s not difficult, you just take your last pay stub and plug in numbers then it does the rest. Could it be easier sure. But this is how you work with the tools we have.