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Level 1
posted May 29, 2024 12:16:40 PM

Filling out w4

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

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1 Replies
Employee Tax Expert
May 29, 2024 12:24:33 PM

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