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New Member
posted Sep 4, 2020 11:47:10 AM

W4

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 ? 

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3 Replies
Level 15
Sep 4, 2020 11:52:59 AM

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

Level 15
Sep 4, 2020 4:50:54 PM

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.

New Member
Sep 4, 2020 6:21:00 PM

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?