2013 - 4th Quarter

Tax Withholding Facts

By Kristi Harms, Payroll Specialist

Be prepared for the end of the year and check your tax withholding before it is too late.  The following are things to remember when reviewing your tax withholding elections.

 WHAT are my tax withholding elections based upon?

 The amount of income tax withheld from your pay depends on two factors:

1.       The gross amount you earn per pay period.        

2.       The information you complete on Form W–4.

 Form W–4 provides the following information, which is used to figure withholding from each of your pay checks:

1.       Will I withhold at the single rate or at the lower married rate?

2.       How many withholding allowances will I claim? (Each allowance reduces the amount withheld.)

3.       Do I need to have an additional amount withheld? 

 **You must specify a filing status and a number of withholding allowances on Form W–4.

**You cannot specify only a dollar amount of withholding.

 WHEN Should I Check My Withholding?

The earlier you check your withholding elections within the year, the easier it is to get the right amount of tax withheld.  However, life events do occur throughout the year and may change your marital status, your number of exemptions, or the amount of additional withholding you expect to claim on your return.  Things to consider:

Life Event


Lifestyle changes



Birth or Adoption of a child

Loss of an exemption

Purchase of a new home


Filling Chapter 11 bankruptcy

Wage Income

You or your spouse start or stop working, or start or stop a second job

Change in the amount of taxable income not subject to withholding

Interest Income


Capital gains

Self-employment income

IRS distributions(including certain Roth IRA)

Change in the amount of itemized deductions or tax credits

Medical expenses


Interest Expense

Gifts to charity

Job expenses

Dependent care expenses

Education Credit

Child tax credit

Earned income credit

WHERE can I get help on making my withholding elections?

For help on making withholding decisions, use the IRS Withholding Calculator. This easy-to-use calculator can help you figure what your federal income tax withholding should be, so the correct amount is withheld from your pay. This is particularly helpful if you’ve had too much or too little withheld in the past, your situation has changed, or you are starting a new job.  If you have additional tax questions, visit www.irs.gov or call 1-800-829-1040.

HOW do I Change My Withholding?

Making changes is easy!  Log in to Employee Self Service in myHR and make changes to your withholding elections for future paychecks.  Please note that upon successful submission, the changes may not be reflected on the next paycheck due to timing of payroll processing.

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