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What Is a Withholding Allowance?

By Motley Fool Staff – Updated Dec 13, 2024 at 10:00AM

Key Points

  • Adjust W-4 form to ensure withholding matches your expected tax, preventing over/underpayment.
  • Use IRS Tax Withholding Estimator to refine withholding based on income, deductions.
  • Reevaluate W-4 after life changes like job switch, marriage, to avoid tax surprises.
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