2022 W-4

2022 is right around the corner, and the IRS has released the 2022 W-4.  As expected, there are not many changes from the 2021 W-4, but now is a good time to review your withholding status and update your W-4 with your employer – especially if you had any changes in 2021. The 2022 W-4 is available here:

https://www.irs.gov/pub/irs-pdf/fw4.pdf

Not sure how to calculate your tax withholdings?  The IRS offers a calculator on their website to assist individuals with estimating their expected tax liability.  While using the calculator is not required, both the IRS and tax professionals encourage employees to perform a “checkup,” of their individual withholding status each year, and especially if you experienced any changes to your household income, number of dependents, or any other situation that may affect your tax situation:

https://apps.irs.gov/app/withholdingcalculator/