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Get your taxes done using TurboTax
You "claim" a dependent on your tax return. You put an "exemption" on a W-4 - different things. All that does is lower the amount of withholding and puts the money in your paycheck rather than sending it to the government.
Certainly, the money belongs to her/him, and she/he already received it in the pay check. Nothing is lost. That is how it should work.
You should neither owe additional or get a refund if the exemptions are adjusted properly. Those that get large refunds have too many exemptions and have given the government a interest free loan during the year rather than having use of their own money during the year.
Certainly, the money belongs to her/him, and she/he already received it in the pay check. Nothing is lost. That is how it should work.
You should neither owe additional or get a refund if the exemptions are adjusted properly. Those that get large refunds have too many exemptions and have given the government a interest free loan during the year rather than having use of their own money during the year.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎June 4, 2019
3:42 PM