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Level 1

Question

Filling out w4

1 reply
10 views

For the last 2 years I got back very little on my tax return. Am I filling out my w4 correctly?

Ask the Experts - W-4 II - May 2024

Level 7

Thank you for the question. Without tax credits (Child Tax Credit, Earned Income Tax Credit, American Opportunity Tax Credit, etc.) a modest refund means that you correctly completed your W-4. While a tax refund is often the largest paycheck of the year, if you receive a modest refund it means that you were better able to put your money to work during the year rather than wait for the IRS to process your tax return after the tax year concluded. So great job on correctly completing your W-4 @Frankalvarez26