I was out of a job from March to June this year, so I expect to pay less tax and the tax bracket should be lower.
However, when I joined a new company in July, and filled out the W4, I couldn't find how I can make it so that less tax is withheld by the IRS and state, so right now when the paycheck came, 1/3 of the pay was paid as FICA or Medicare and as tax withheld. It seemed like the W4 form didn't have the job loss taken into consideration.
If the tax stays there with the government, it is 0% interest given to me until next year February or May (for 7 to 10 months), while my stock margin account is charging me 8%, and my credit card companies are trying their best to get 22.99% or 23.99% from me by different methods. So I am paying high interest when I could have money with less tax withholding to pay for them.
How do I make the withholding less in this case?