How to Fill Out the 2024 Form W-4

The Form W-4, Employee’s Withholding Certificate, is a document you provide to your employer that dictates how much federal income tax should be withheld from each paycheck. The IRS requires this form so employers can accurately calculate and remit taxes on their behalf. Completing the form correctly helps you avoid having too much or too little tax withheld, ensuring your withholding aligns with your tax situation.

Gathering Your Information for the W-4

You will complete a W-4 when you start a new job. Certain life events may also prompt you to update your form to ensure your withholding is accurate. These can include getting married or divorced, having or adopting a child, or a significant change in income for you or your spouse. A change in non-wage income, such as from freelance work or investments, might also warrant an adjustment.

To complete the form accurately, you should gather several pieces of information. Have your personal details ready, including your full name, address, and Social Security number. You will also need to decide on a filing status: Single or Married filing separately, Married filing jointly, or Head of household. This choice has a significant impact on your standard deduction and tax brackets.

You should also collect your most recent pay stubs, and if you are married and filing jointly, your spouse’s as well. If you have income from other sources, like a side business or investments, you will need those amounts. Finally, consider any tax credits and deductions you anticipate claiming, such as the Child Tax Credit or itemized deductions for mortgage interest if you plan to itemize.

A Step-by-Step Guide to the 2024 Form W-4

Step 1: Enter Personal Information

The first step requires your basic personal information, including your name, Social Security number, and address. This section also requires you to select your anticipated tax filing status. The options are “Single or Married filing separately,” “Married filing jointly or Qualifying surviving spouse,” and “Head of household.” Your selection determines the standard deduction and tax rates used to calculate your withholding. If you are a single person with one job, no dependents, and plan to take the standard deduction, this may be the only section you need to complete besides signing the form.

Step 2: Multiple Jobs or Spouse Works

This step is for employees who hold more than one job or are married filing jointly and their spouse also works. You have three options to ensure your withholding is calculated correctly. The most accurate method is to use the IRS’s Tax Withholding Estimator tool online and enter the resulting withholding amount in Step 4(c). A second option is to use the “Multiple Jobs Worksheet” on page three of the Form W-4 and enter the result in Step 4(c). The third option is to check the box in Step 2(c) if you and your spouse each have one job, or if you have two jobs with similar pay. If you choose this option, you must also check the same box on the W-4 for the other job, which splits the standard deduction and tax brackets between the two jobs.

Step 3: Claim Dependents

If your total income is $200,000 or less ($400,000 if married filing jointly), you can use this step to account for tax credits for your dependents. For each qualifying child under age 17, multiply the number of children by $2,000. For other dependents, multiply their number by $500. The sum of these two amounts is entered on line 3 and will reduce your withholding. For married couples, the tax credits should be claimed on the W-4 for the highest-paying job to prevent under-withholding.

Step 4: Other Adjustments

This optional step allows you to fine-tune your withholding. Line 4(a) is for other income not from jobs, such as interest, dividends, or retirement income. Line 4(b) is for deductions other than the standard deduction. If you expect to itemize or claim other deductions, use the “Deductions Worksheet” on page three of the form and enter the result here to reduce your withholding. Line 4(c) allows you to specify an extra amount you want withheld from each paycheck, such as the figure from the Multiple Jobs Worksheet or the IRS estimator.

Step 5: Sign Here

The final step is to sign and date the form. Your signature affirms that, to the best of your knowledge, the information you have provided is true and correct. An unsigned W-4 is not considered valid by your employer or the IRS.

Finalizing and Submitting Your Form

After filling out your Form W-4, review your entries carefully. Check for typos in your personal information and double-check your calculations in Steps 3 and 4. The completed and signed Form W-4 is then submitted directly to your employer, typically to the human resources or payroll department. You do not send this form to the IRS. Your employer will use the information to update their payroll system and adjust the tax withheld from your future paychecks. You should examine your next pay stub to confirm that the changes have been implemented.