Can I get penalized for putting exempt on my w-4 form by mistake?, and if so, does the irs take out the amount owed out of my refund?

[Hal_Al · Accepted solution]

Theoretically yes, but that is very unlikely. You will simply pay an underpayment penalty at the time you file your tax return (if you owe more than $1000).

Change you W-4 at work, as soon as possible.

[sl77619]

Thank you very much! I will get it changed ASAP! You have been very helpful!