The W-4 you give to your employer tells the employer how much tax to withhold from your paychecks. It does not dictate what you have to enter on your tax return. But be aware that if you have been having less withheld from your paychecks based on those dependents, then at tax time it could turn out that you have not had enough withheld to cover your own tax liability, or that your refund is small.
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