W4 dependents

[G112]

I summited 2 dependents on my w4s but won’t be claiming them on my tax’s. Can this results to any fees or penalties?

[DoninGA]

What you enter on your W-4 that you give to your employer in regards to your filing status or dependents has no bearing on what you can enter on your tax return.

[xmasbaby0]

The  W-4 you give to your employer tells the employer how much tax to withhold from your paychecks. It does not dictate what you have to enter on your tax return.   But be aware that if you have been having less withheld from your paychecks based on those dependents, then at tax time it could turn out that you have not had enough withheld to cover your own tax liability, or that your refund is small.   

[Opus 17]

Claiming dependents on your W-4 will reduce your tax withholding (less money taken out and sent to the IRS).

If you do not claim the dependents on your tax return, you will owe more tax than you expect.  If you owe more than $1000 when you file your return, you can be assessed an underpayment penalty, even if you pay in full when you file.  (The IRS expects you to pay into the system relatively evenly throughout the year, owing too much when you file shows you did not have enough withheld over the year, and that can be subject to a penalty.)

If you know you won't be claiming the children and will owe higher taxes as a result, you should probably adjust your withholding now for the rest of the year (to have more taxes taken out of your check) so you come out even at the end of the year instead of owing a big bill.  This tool can help you.

https://www.irs.gov/individuals/tax-withholding-estimator