If you did not have any tax withheld from your wages--you say you claimed "exempt" (which was a big mistake)--then there is nothing from which to give you a refund. You only get a refund if the taxes withheld are more than the tax you owed to the iRS. Does box 2 of your W-2 have a zero or is it blank? If you have a tax liability then you will owe the IRS and will need to pay by check, money order or credit card.
Going forward, do not claim to be exempt. There could be a penalty for saying that if it is not true.
If you did not have any tax withheld from your wages--you say you claimed "exempt" (which was a big mistake)--then there is nothing from which to give you a refund. You only get a refund if the taxes withheld are more than the tax you owed to the iRS. Does box 2 of your W-2 have a zero or is it blank? If you have a tax liability then you will owe the IRS and will need to pay by check, money order or credit card.
Going forward, do not claim to be exempt. There could be a penalty for saying that if it is not true.
Box 2 of my w2 is just blank. I've filed taxes and Turbo tax is saying I have a refund. Which isn't as much as it usually is. And I'm getting it's because of that error.
Are you claiming any dependents for which you are getting child-related credits like child tax credit or earned income credit?
I'm claiming both child tax credit and earned income. Filing stat is head of house. Which I qualified for all tax breaks.
Maybe exempt is the correct status for you. Did you work all of 2017?
Instead of claiming exempt, you could enter extra allowances to limit how much is withheld from your paycheck, In your case, you are OK, since you have enough personal exemptions, standard deduction, & credits, etc to keep your income from being taxable. But if your income increases, be careful about saying you are exempt. With the new tax laws it will be interesting. New W-4's will be coming out soon and there will be no personal exemptions.
You said above that you are getting a refund. You do not owe..yay! With your standard deduction of $9350 for HOH, personal exemptions of $4050 each for yourself and at least one child (or more?) and CTC, EIC, you are good. You had no taxable income at all, and you get a refund because of the EIC.
Hello I recently saw your discussion which was a month ago but I'm a single person with no kids and I want to claim EXEMPT is it possible I will owe during tax time? And if so how much? Please write back somebody lol
You can only file exempt under special circumstances. Not sure what they all are. It's better to claim more allowances than you need to have less taken out. If you make over 12,000 (the Standard Deduction for Single) you will owe tax on the amount over 12,000. The IRS wants you to pay the tax in evenly during the year and not all at once on your tax return. If you don't you may owe a penalty if you owe too much.
Not quite understanding I apologize it's all so overwhelming I was researching and I was qualified stating that if the following 1. I received a refund for last year without tax liability meaming I didn't OWE and 2. IF I anticipate on receiving a federal refund next year. So I already did it but am I allowed to change it on my W4 form I'm starting a new job btw.
I claimed exemption on accedent too all last year and I haven’t yet filed the tax w4 yet I’m so scared to do it because I researched and it’s considered tax fraud because I saw the pay stub it says exempt 99 I don’t o ow what that means and I claimed exemption all that year and a few months after but changed to single and claimed myself when I found this out please help I’m scared I might go to prison I wasn’t trying to do anything wrong I thought I qualified for being exempt because a co worker recommended it and it didn’t get me anywhere??
Yes I accidentally had 0.00 tax's witheld and I filled out a W4 with my Employer.
@stargirl1990 Try the IRS W-4 calculator: Tax Withholding Estimator
Please see the additional information below on W-4's:
What to know about the new 2020 IRS Form W-4 Employee’s Withholding Certificate
Hello I accidentally claimed exempt on my w2 can I change it back?
Yes. Give your employer a new W4. But that is only for future paychecks and won't affect your 2019 return.
Made a mistake on my W-4 and filed Exemp. I am paying now the taxes I owed the federal government in 2019. However, I didn't notice the mistake till yesterday so my 2020 Tax Returns so I'd like to avoid another large amount of money being due next year.
Is there anyway I can proactively pay for the amount of taxes I've missed in the past 6 months of 2020? Essentially tru-ing up.
Yes you should! Send in an estimated payment.
Here are the blank Estimates and instructions…..
http://www.irs.gov/pub/irs-pdf/f1040es.pdf
The 1040ES quarterly estimates are due April 15, 2020, June 15, Sept 15 and Jan 15, 2021. The first quarter is not due until July 15 this year. Your state will also have their own estimate forms.
Or you can pay directly on the IRS website https://www.irs.gov/payments
Be sure to pick the right kind of payment and year.....2020 Estimate
This is fantastic, thank you very much!
Is there a way to do in with in my 2019 returns or does it need to be a separate payment?