W4

Forum|Forum|6 years ago
September 4, 2020
3 replies
35 views

I’m confused on way w4 is setup. I followed the questions it asked me. And since may 2020, I noticed 0.00 federal taxes withheld.
min a little concerned with this on what I’ll have to pay back. Did I miss something or do something wrong ?

Not A Product Question

DoninGA

Level 15

Use the IRS withholding calculator here - https://www.irs.gov/individuals/tax-withholding-estimator

Carl

Level 11

The main thing when filling out the W-4, as you read the instructions, pay attention to detail. It matters big time. Particularly in "Step 3: Claim Dependents". For that one, if the will "NOT" be under the age of 17 on Dec 31 of 2020, then do NOT include them in that number.

Maniax73 Author

Level 2

Thanks. Yes my kiddos are 9 and 5. So got some time lol. I did claim them since they’ve been born. I’m just trying to understand why I see 0.00 on federal tax withheld on my paychecks since may. Doesn’t ask for exemptions or anything like that. Is because of COVID?