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15 March, 2010 |

I want to know how much will be withheld from my gross income if I claim 0 allowances on my W4?

  • I currently claim 2 allowances on my W4 (with no additional $) and I want to switch to 0.
    I calculated that, currently, 10% of my AGI goes to Federal taxes.
    What percentage will it be when I bring the allowances down to 0?

    I desperately tried to find this information on the IRS web site, Google... to no avail. Frustrating!!!!


  • Go here: http://www.paycheckcity.com

    The tax rate depends upon your gross pay per pay period. You can run the numbers at that site.

    Keep in mind that if you are not paying any tax at filing time now, reducing the allowances to 0 will result in smaller paychecks every pay period. The excess will be returned to you when you file. You'll only be making an interest free loan to the government; it will not change your tax liability at all, so if your net liability is 10%, it will remain 10%. Only the amount of your refund will change.


  • Not to put too fine a point on it but I was able to find the withholding tables in about 5 seconds. Go to the IRS site and download Publication 15. The tables start on page 38.







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