Employees are required by the IRS to fill out Form W-4. This form allows the employee to adjust the amount of tax that is withheld from their paycheck.
Knowing how much to withhold from one's paycheck as an employee can be challenging. Making this calculation is tricky. The good news is that the IRS has made it easier for employees to calculate how much they would like withheld.
For 2020, the IRS has released this new Tax Withholding Estimator, which is a web application. Employees enter their information into this web program. The program will give employees authoritative answers on how much they should withhold.
