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Should I put zero for my dependent and single to get more money back

 
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2 Replies

Should I put zero for my dependent and single to get more money back

@taquila2001 - that is 'fools gold' 

 

your tax is only calculated on a tax return.,

 

your witholdings onyou paystub is a 'down payment' against the tax owed.  The more that gets withheld on that paycheck, the higher your refund will be in April - but you are giving the IRS an interest free loan.  it does not change the tax you owe!!!!

 

if your goal it to minimize your refund, then closely follow the directions on the W-4. 

 

if your goal is to get a large refund, which is simply forced savings, then yes, put down Single and no children, even if you are married and have children. 

rjs
Level 15
Level 15

Should I put zero for my dependent and single to get more money back

You can use the Tax Withholding Estimator on the IRS web site to figure out what to put on your W-4 form. It will show you how to adjust your withholding to get the approximate refund amount that you want.

 

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