I've the same case!! Im graduating high school this summer .I just started a new job and I while I was filling up the w4 form I claimed myself as exempt because I didn't know what to do. This is my first job so I never had tax liability and my parents claim me as dependent. Now what if the total income is something like $20,000? Is there any penalty for claiming myself as exempt if I'm not eligible for claiming myself as exempt ?
