Page 30 - Tax Withholding Estimator FAQ's

How is my estimated under

payment/over payment

calculated?

- Your est imat ed under payment /over
payment is t he difference bet ween your
ant icipat ed t ax obligat ion and your
expect ed t ax wit hholding (which
includes your est imat ed t ax payment s).
- Your expect ed t ax wit hholding is t he
amount of federal income t ax we
project you will have wit hheld t his year
if you do not change your current
wit hholding arrangement .

Why are there no withholding Results Page

recommendations for Social
Security and unemployment?

Do my estimated results
- Withholding for these types of
income differs from standard include FICA and Medicare

withholding and the estimator Tax?
t
doesn? currently have the ability
to provide these sorts of - The tool is intended to help you
recommendations. complete Form W-4 to adjust the
amount of federal income tax to
- If you?d like to make changes to
have withheld from your wages.
your withholding amounts for - Form W-4 does not address FICA or

Social Security benefits or Medicare.
unemployment compensation, - Therefore, the tool does not include

please use the Form W-4VPDF. or ask for FICA or Medicare tax
withholding in most situations.
- However, you may choose to have
- However, the tool does take into
tax withheld from your wages to
account additional Medicare tax,
cover the tax on your Social which some people with high

Security benefits and incomes must pay with their tax
unemployment income. return.

- If you enter those types of income - To learn more about additional
Medicare Tax, please read
into the Tax Withholding Estimator,
additional Medicare Tax FAQs.
its recommendation will account
for them in your wage withholding.