Federal Income Tax Calculator
The purpose of the Tax Calculator is to help employees calculate income tax that is withheld from their pay. It does not replace the W-4 Form, but most people find it more accurate and easier to use than the worksheets that accompany the W-4.
Who Can Benefit From Using the Income Tax Estimator?
* Employees who would like to change their withholding to reduce their tax refund or their balance due;
* Employees whose situations are only approximated by the worksheets on the paper W-4 Employees with non-wage income in excess of their adjustments and deductions that would prefer to have tax on that income withheld from their paychecks rather than make periodic separate payments through the estimated tax procedures.