An employee who is over- or underwithheld for any reason can fill out a new W-4 to adjust withholding for the remainder of the year. If an employee is overwithheld, they have the option to leave the withholding as-is and then wait for a refund after filing their personal tax return.
To print a new W-4 form:
- Go to Taxes > Payroll Tax. Under Forms, click Employee Setup.
- Click W-4 and then click View.
- Move your mouse around the bottom of the PDF until you see the toolbar.
- Click the printer icon to print the form.
When your employee gives you a new W-4:
- Go to the Employees tab.
- Click the name of the employee.
- In the Taxes & Exemptions section, click Edit.
- Enter the changes for withholding, and then click OK.
Taxes going forward are withheld based on the new W-4 information.