The redesigned Form W-4 makes it easier for you to have your withholding match your tax liability. But if you prefer to have more tax than necessary withheld from each paycheck, you will get that money back as a refund when you file your tax return (keep in mind though you do not earn interest on the amount you overpay). The simplest way to increase your withholding is to enter in Step 4(c) the additional amount you would like your employer to withhold from each paycheck. Note, even if you don't have any income tax withheld from your wages, you may get a refund if you are eligible for tax credits such as the Earned Income Credit, the Additional Child Tax Credit, or American Opportunity Credit.
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My tax situation is simple. Do I have to complete all of the steps?
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What happens if I only fill out Step 1 and then sign the form?
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When should I increase my withholding?
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When should I decrease my withholding?
You should generally decrease your withholding if: you are eligible for income tax credits...
Why do I need to account for multiple jobs (Step 2)? I have never done that before.
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