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Deductions & credits
@macuser_22 Thank you for your response but I think you misunderstood what I was asking. I understand how the IRS determines who is the custodial parent each year. I claim him in odd years, per our parenting contract, so I list him as living with me 7+ months out of the year. In those odd years (such as 2019), I use the HOH filing status. But when his mother claims him (for 2020), I use the single filing status. That is not the problem. My question has to do with the W4. The new W4 only asks you what your anticipated filing status will be. Where I will be claiming his for the 2021 tax season, I am thinking I should select HOH. My question is do I need to fill out a new W4 at the beginning of 2022 and select the single filing status since I will not be claiming my son for that tax year?
@AmeliesUncle I was wondering how each filing status would affect my tax withholdings each year. To be honest, I can't remember what I chose on my last W4 and I ended up not having any federal tax withheld for 2020 which resulted in me having to pay taxes this year. I am trying to get this straightened out with my employer to see if a mistake was made.
Thank you both for your responses. I am just trying to make sure I am getting the correct amount withheld to avoid paying again. (FYI - the W4 no longer asks you how many exemptions/allowances you would be claiming. Something I didn't know until now.)