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marshalmagnate
Returning Member

So I made $43,000 in wages in 2022 and claim '0' on my W4 so I can maximize my federal refund amount at the end of the year - The federal refund amount is $150, what?

 
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5 Replies

So I made $43,000 in wages in 2022 and claim '0' on my W4 so I can maximize my federal refund amount at the end of the year - The federal refund amount is $150, what?

You're not giving us a lot of information. How much was withheld according to your W-2?

 

What were you expecting your refund to be?

marshalmagnate
Returning Member

So I made $43,000 in wages in 2022 and claim '0' on my W4 so I can maximize my federal refund amount at the end of the year - The federal refund amount is $150, what?

My federal income tax withheld was $3600.  A $150 refund is pocket change to what I have received in the past - I don't have any significant life changes that would necessitate such a dramatic change in my refund. Please help

So I made $43,000 in wages in 2022 and claim '0' on my W4 so I can maximize my federal refund amount at the end of the year - The federal refund amount is $150, what?

OK, so assuming single with no other income, your taxable income after standard deduction of $12950 would be about $30,000. Tax on that would be $1027.50 + 12% of the amount over $10,275, or $1027.50 + $1972.50 = $3400.

 

So that seems about right.

marshalmagnate
Returning Member

So I made $43,000 in wages in 2022 and claim '0' on my W4 so I can maximize my federal refund amount at the end of the year - The federal refund amount is $150, what?

Really?

AnnetteB6
Employee Tax Expert

So I made $43,000 in wages in 2022 and claim '0' on my W4 so I can maximize my federal refund amount at the end of the year - The federal refund amount is $150, what?

If you are filing Single with no dependents to claim, then setting your W-4 to zero is the correct thing to do.  The withholding tax tables are designed to withhold the appropriate amount of tax based on your income, filing status, and exemptions.  So getting a small refund or having a small balance due is exactly what you should expect.  

 

@marshalmagnate 

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