Help question about w4?
When I first started my job I didn’t quite understand claiming allowances so at the time I put 0. So I’ve been reading when you put 0 that’s why the taxes take too much from my weekly checks. I’m single I work one job I have no children. My parents don’t claim me. even though I still live at home plus I’m 26. Can I fill out a new w4 and change that 0 to a 1 or 2? Will I still get a refund at end? I’m so confused please explain this?
- ShayLv 76 months agoFavorite Answer
A tax refund is based on paying too much taxes in the first place.
When you are single and working only one job, claiming 0 on your W-4 form means that you are paying more taxes than you need to pay and you would get a refund of the over payment.
When you change to 1 allowance, less taxes are taken. You wouldn't be overpaying by as much and your refund would go down, but it is still likely that you would get a small refund.
When you change to 2 allowances, but you are only a single person, you are right on the edge of not paying enough taxes. You would either break even or you would end up owing a small amount. So - either a very small refund or a very small tax debt to the IRS.
Now, this year is half over and you have been claiming 0 for the first six months of the year. That means for this year, you could probably claim 2 allowances for the rest of the year and be fine.
During either December or January, change it to 1 for the following year if you want to avoid owing taxes at the end of the following year.
- 28AKOLv 56 months ago
no keep it at 0
- babyboomer1001Lv 76 months ago
Intelligent people ASK when they don't understand something. You are a somebody - you have to claim yourself, and you have no kids so you do not claim anyone else. Ask your employer for another form and claim 1 - you.Source(s): Certified Paralegal, with 25+ years' experience.
- 6 months ago
You can do a new W4. Yes, you still get a refund of anything you overpaid.
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- WilliamLv 76 months ago
Since your parents don't claim you you really should have claimed 1.
Your tax is your tax. If you underpay, you'll have to write a check. If you overpay you get a refund. You only file to balance the IRS books.
Everyone's GOAL should be to either get a really small refund or only pay a little more in.
- JudyLv 76 months ago
yes you can file a new one and put 1 or 2. If you put 1 you should still get a refund, With 2 you'll get a little more in your paychecks but might not get a refund, The total money is the same.
- StephenWeinsteinLv 76 months ago
You can change it. With 1 you will probably still get a refund, but it will be smaller. With 2 you might not get any refund.
If you put more than 0, you will not get more money total. The sum of your checks plus your refund will be the same or less. If they take less from your checks, then your refund will also be less by the same amount.
- Anonymous6 months ago
I work 40 hrs, get paid weekly last check gross pay is $831 but I take home $606 that’s how much they take out it’s ridiculous.
I am so stupid this whole time I could’ve been making a little more, but I put 0 bc I didn’t understand at the time. Can I change fill out a new form now? Do I go to my employer for it? If I put 2 then you’re saying I wouldn’t owe the irs too much?
- Anonymous6 months ago
2 is what you would normally pick. You can use withhoding calculator at IRS.GOV to estimate higher number since it's almost July.