For each allowance claimed on the W4, what is the change in federal withholding?

0 ⤊

For each allowance claimed on the W4, what is the change in federal withholding?

2007-06-11 15:26:40 · 1 answers · asked by ropman1 4 in Business & Finance ➔ Taxes ➔ United States

1 answers

That depends on your income. See IRS Publication 15, Circular E for details including the formulas used to calculate withholding.

Basically, for each allowance, the withholding is decreased by the personal exemption amount times your expected tax bracket.

2007-06-11 15:33:57 · answer #1 · answered by Judy 7 · 0⤊ 0⤋