W-4 Withholding Tax Calculator

It is important that your tax withholding match your tax liability. Your tax liability is the amount of money that you owe to the government in federal taxes, taking into account any tax credits for dependents, mortgages, or charity. If your withholding doesn’t take these into account, you could be having too much withheld from your paycheck. This means you will not be able to access money that is rightfully yours until you receive your tax refund. Alternatively, if not enough tax is withheld from your paycheck, you will owe tax at the end of the year and may have to pay interest and a penalty.

Always check your withholding with this tool if there are personal or financial changes in your life that might change your tax liability, for example new employment or a promotion changing income amount, or new family members altering the number of dependents you claim. For a recommendation on your withholding, please complete the information below.

How much income tax do I pay and how much tax should be withheld?

Discover how your tax withholdings match your tax liability with this W-4 Tax Withholding Calculator.

  1. Have relevant financial income information such as your paystub and last year’s tax return ready for reference.
  2. Enter in your tax from last year if your financial situation this year will be similar. This can be found on your tax return from last year.
  3. Enter in the amount of federal tax that has been withheld to date this year from each source of income.
  4. Enter how many jobs you and your spouse, if applicable, hold.
  5. Enter how much federal income is withheld from your paycheck each payday, then enter how many paydays are remaining for this year.
  6. View your withholding. If your withholding is too low or too high, contact a Liberty Tax® professional to help you update your W-4 form.

General Information

If your income and tax situation are similar to last year, enter your tax for the prior year.This can be found on your prior year tax return as follows:

  • Form 1040, line 63
  • Form 1040A, line 39
  • Form 1040EZ, line 12

Note: For wages, this information usually can be found on your last and most recent paystub(s). For self-employment, this will be your estimated tax payments made to date.

Paycheck Information

Please provide information about your job(s).

Withholding Recommendation

For Your W-4
Your projected withholding for 2020:
Your projected tax for 2020:
Your projected under payment of tax

The Liberty Withholding Calculator is a tax estimator tool only and should only be used to calculate an individual’s estimated tax withholdings.  The Liberty Withholding Calculator is not intended to serve as an online tax preparation tool for either a federal or state income tax return, or any other return; any other use is strictly prohibited. Liberty and its affiliates make no representations, warranties or guarantees about and assume no responsibility for the content or application of the material contained herein and expressly disclaim all liability for any damages arising out of the use of, reference to or reliance on the Liberty Withholding Calculator.