ilmscore | Prediction Details
"so let's just say you're working 10 jobs this is extreme let's just say you're working 10 jobs you get 10 w-2s and you make $10,000 at each of those 10 jobs so you're making essentially $100,000 but I each one of those jobs they each think that you're making only $10,000 for the year right so in that case they would be withholding at a very low tax rate because they think you're only making $10,000 for the year but in reality you should be withholding at a higher tax rate because in reality you're making $100,000 so a person making $100,000 should be withholding at a higher tax rates than a person making 10,000 so in that case you need to tell the payroll systems that information that you are working more than one job at a time so if you do not relay this information to them you're gonna be withholding and a much lesser rate than you should you're gonna be under withholding taxes and then you're most likely going to have a tax balance to you when you do your tax return"
By ClearValue Tax | December 17, 2019 | Pending
From video
How to fill out a W4 Form 00:03:39 - 00:04:46
Interpreted Prediction
Failure to report multiple jobs on the W-4 can lead to under-withholding of taxes, as each employer assumes a lower annual income than the actual total.

Prediction Details

Topic
Tax Withholding for Multiple Jobs

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