If my husband is claiming the children & myself as an allowance on his w4, Can I still claim the children as allowances on my w4?

[Critter · Accepted solution]

Not wise as this will most likely have you being underwithheld and owing on your return ...

Try these tools:

http://www.irs.gov/Individuals/IRS-Withholding-Calculator

 https://turbotax.intuit.com/tax-tools 

http://turbotax.intuit.com/tax-tools/calculators/taxcaster

[Anonymous]

taking too many exemptions can result in a large tax bill come filing time,..  in addition. if enough was not paid in there will be penalties.