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Thread: myPay question

  1. #1

    Default myPay question

    I have a myPay question, if anyone can help.

    So I get to claim my child every other year on taxes. I need to change my dependents on myPay to get the correct amount held out. On the State taxes, it is easy...you just select the number of depends and hit enter.

    Now, they have changed the way they do the Federal tax withholdings and you no longer enter in how many dependents you have. You now have to play around with an online calculator to get an estimate of how much Federal tax you will pay in, and then put in a dollar amount in myPay.

    So, do I put this dollar amount I want withheld for Federal taxes in the "Claim Dependents" box on myPay?

    Also, the calculator says my Federal taxes obligation will be an estimated $7000.00 per year.

    So, if I use the "Claim Dependents" box, do I put in the whole $7000.00 for the year...or do I divide the $7000.00 by 26 pay periods and put in $269.23 in the box and that's how much will be withheld every pay period?

    Confusing. Tried to call myPay, but cannot get ahold of a human there.
    Do not rely on a rabbits foot for luck; It did not work out too well for the rabbit...


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  3. #2

    Join Date
    Jul 2016
    Location
    Texas
    Posts
    2,202

    Default Re: myPay question

    I.don't know about MyPay, but are you trying to reduce the amount of money withheld when you claim your children?
    https://www.irs.gov/forms-pubs/about-form-w-4
    If you look at the actual form, switching from Single to Head of Household or Married seems like it would be the easiest way to reduce withholding
    I thought the only dollar amount you can include on the W-4 is per pay period and the extra amount you want taken out.

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