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What can I do or change on my W4 so my tax return will be bigger?

On my W4 I have 3 allowances, should I remove it and put 0
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2 Replies

What can I do or change on my W4 so my tax return will be bigger?

is there a reason you want the US Government to hold your money interest free for on average 6 months. if so, then yes reduce the number of exemptions and loan the government your money for a while. 

 

What can I do or change on my W4 so my tax return will be bigger?

The more tax you have withheld from your paychecks, the more you can get as a refund at tax time next year.  But, as mentioned above, that is your own money.  Having more withheld just to get a bigger refund next year means you gave the government an interest free loan all year.  Why not put your money into an account where it can earn some interest instead of letting the government hold it all year?

 

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

https://www.irs.gov/pub/irs-pdf/fw4.pdf

**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.**

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