How can I calculate how changing witholding allowances will affect my Fed tax witholding ?

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How can I calculate how changing witholding allowances will affect my Fed tax witholding ?

Current Fed witholding is $187.49 with 4 allowances, changing to 2.

2007-06-26 03:36:18 · 2 answers · asked by Julius M 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

Changing from 4 to 2, they'll deduct more, but the amount depends on how much you earn. Check with your payroll department and they should be able to tell you.

The tables for deductions are in IRS Publication 15 Circular E - you can download it at irs.gov

2007-06-26 04:51:03 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

ask your HR department... they have the tables. Withholding is based on earnings.

2007-06-26 03:48:00 · answer #2 · answered by Leah 4 · 0⤊ 0⤋