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This IRS online tool simplifies estimating 2023 tax withholding
A few minutes spent reviewing income tax withholding early in the year helps set a taxpayer up for success all year long. The Tax Withholding Estimator on IRS.gov makes it easy to figure out how much to withhold.
This online tool helps employees withhold the correct amount of tax from their wages. It also helps self-employed people who have wage income estimate their quarterly tax payments.
The Tax Withholding Estimator does not ask for personally identifiable information, such as name, Social Security number, address and bank account numbers. The IRS doesn’t save or record the information users enter in the Estimator.
Why use the Tax Withholding Estimator
Taxpayers can use the results from the Tax Withholding Estimator to decide if they should:
Before using the tool, taxpayers may want to gather a few documents, including:
People do not need these documents use the tool but having them will help taxpayers estimate 2023 income and answer other questions asked during the process. The Tax Withholding Estimator results will only be as accurate as the information the taxpayer enters.
The Tax Withholding Estimator isn’t for taxpayers who
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