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maxRide98
Level 2

This is the first year I've ever owed taxes. I currently withhold $0 with my W-4, I have a fiance I support and a 3-month old baby, I try to save as much money as possible to invest and I contribute t

to a 401k. What selections should I make on my W-4 to avoid owing taxes next year and get a refund?
2 Replies
xmasbaby0
Level 15

This is the first year I've ever owed taxes. I currently withhold $0 with my W-4, I have a fiance I support and a 3-month old baby, I try to save as much money as possible to invest and I contribute t

Three month old baby? Was the baby born in 2018 or 2019?  If your child was born in 2018 make sure you said in My Info that the child lived with you the WHOLE year.  That way you get the child-related credits.  Of course, if he was born in 2019, wait for next year to claim your child on your 2019 return.

https://www.irs.gov/individuals/irs-withholding-calculator

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
CarolynM
Level 1

This is the first year I've ever owed taxes. I currently withhold $0 with my W-4, I have a fiance I support and a 3-month old baby, I try to save as much money as possible to invest and I contribute t

The IRS is in the process of finalizing significant changes to Form W-4. 

When the new form comes out this summer, you need up select enough to cover your family, so at least 2. 

For more information about the new W-4, follow this link: 

https://www.fool.com/retirement/2019/04/10/heads-up-taxpayers-the-withholding-process-is-chan.aspx

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