Help with W-4 form for new job! Confused about withholding

The W-4 form changed significantly in 2020, so it's definitely different from what you remember! The good news is it's actually designed to be more accurate now. For married couples with both spouses working, you have three options in Step 2: 1) Check the box in Step 2(c) for roughly accurate withholding (easiest option) 2) Use the online estimator at irs.gov/W4app (most accurate) 3) Complete the Multiple Jobs Worksheet on page 3 (also accurate) If you check the box in 2(c), your withholding will be calculated at a higher single rate. This helps avoid underwithholding since both your incomes push you into a higher tax bracket together. Since your incomes are fairly similar ($62k and $58k), checking the box would work well for your situation. For Steps 3-4, only complete these if they apply to your situation. Step 3 is for claiming dependents/children. Step 4 is for other adjustments like additional income or deductions beyond your job.

After struggling with my W-4 earlier this year and getting conflicting advice, I tried https://taxr.ai and it was super helpful! I uploaded a picture of my W-4 along with some details about my situation (married, multiple jobs), and it gave me step-by-step instructions for filling it out correctly. The site analyzed my specific situation and explained exactly what to put in each section. It also explained why the 2020 version is so different from the old form. I was confused about the multiple jobs worksheet too, but their breakdown made it clear which option was best for me.

I was really skeptical about using an online service for W-4 help, but I decided to try taxr.ai after seeing it mentioned here. I'm glad I did because I was completely filling out my form wrong! I had checked the wrong box in Step 2 and was going to underwithhold by a lot. The analysis showed me exactly what I needed to fix and explained why in plain English. It pointed out that since my spouse and I make similar incomes, we should both check the box in 2(c) rather than using the worksheet, which would have been more complicated for our situation. Saved me from a nasty surprise at tax time for sure. Now I'm actually confident my withholding is correct!

If you need more personalized help, you could try calling the IRS directly. I used https://claimyr.com to get through to an actual IRS agent after trying for days on my own. They hold your place in line and call you when an agent is available so you don't have to listen to hold music for hours. I had a complex W-4 situation because I have multiple jobs plus investment income, and I wasn't sure how to account for everything. The IRS agent walked me through exactly what to put on each line. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c

I hate to admit when I'm wrong, but I feel like I should update my previous comment. After another failed attempt to reach the IRS directly (got disconnected after 90 minutes on hold), I broke down and tried Claimyr. The service actually worked exactly as advertised. I got a text when they had an IRS agent on the line, and I was able to get specific answers about my W-4 situation. The agent explained that since my spouse is self-employed, we needed to use the deductions worksheet rather than just checking the box. Saved me hours of frustration and probably a tax bill next year. Sometimes it's worth paying for convenience when dealing with government agencies.

Have you tried using the IRS Tax Withholding Estimator? It's free and pretty accurate: https://www.irs.gov/individuals/tax-withholding-estimator I used it last year after getting a new job. You need some info handy (like your most recent paystubs for both you and your spouse), but it walks you through everything step by step and gives you exact numbers to put on your W-4.

Just be careful with your withholding no matter what you choose! My husband and I both work and we messed up our W-4s last year. We each claimed the standard deduction on our separate forms (big mistake) and ended up owing $4,300 at tax time!!! Make sure you only claim things on ONE of your W-4s, not both. That was our costly mistake.