Hi!
Ever since the W-4 form changed, it has been made more difficult to change my allowances (I guess that's not even a thing anymore).
I am looking to adjust my federal withholding because I believe too many taxes are being taken out of each paycheck. So I've used Turbo Tax's calculator (which also hasn't been updated to 2024 yet by the way) and the IRS' calculator and both times, the results showed that I have to claim x amount of dependents. But I don't have any dependents, and I made that clear as I filled out the form.
I'm really confused about this. Is that the only way, now, to decrease your federal withholding? Isn't it not okay to claim dependents when you have none?
Thank you for any help I can get on this.
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Yes that's ok. The W4 doesn't have to match your tax return filing status or # of dependents. And it's always been that wait that you can claim more dependents to decrease the withholding.
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