Q: Why is it important?
A: You want just the right amount of income tax taken out of your paycheck so that you don’t potentially owe the IRS (or a state tax authority) a lot in 2021.
Q: Where can I make changes to my W-4?
A: OneWalmart > Me > My Money > Tax Center > My W4
Q: How do I know if I am taking out the right amount?
A: “Right” looks different to each associate. So, we recommend speaking with a tax advisor and reviewing the IRS W-4 FAQs and Tax Withholding Estimator.
Q: Can’t I just use the same answers from last year? Everything is the same for me!
A: You can, but it’s not a good idea. Your financial situation might be the same, but the form has changed and could end up costing you next tax season.
Q: When should I do this?
A: ASAP! It takes less than 15 minutes to update your W-4. So go ahead and get things sorted for the second half of 2020. Your future self will be glad you did.