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Doesn't have E.D.
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3,824 Posts
Discussion Starter · #1 ·
I just realized on my paystub that I have been claiming 2, I don't recall ever claiming 2.. I usually claim 0..

I am going to go to a tax place, simply because that is my preference, are they going to ask me who my other dependant is? I by no means intentionally misinformed my employer, I know I have to get that corrected and will next week, but for this past year, Could I get in trouble for claiming 2 rather than 1, or 0? Or will I possibly have to pay in taxes? Or will this go unnoticed, and I'm sweating this over nothing.. This may be a dumb question but I'm not so familiar with taxes, laws and whatnot.

Also, does claiming 2 increase my return? or simply increase my check per period?

Incase this is necessary, fed took 3k out last year, and state took out $1500

Thanks
 

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Super Moderator
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12,796 Posts
Claiming more reduces the amount of tax withheld. You are sweating over nothing, though you will likely end up owing more taxes than you might have expected.
 

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Doesn't have E.D.
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3,824 Posts
Discussion Starter · #3 ·
So I may owe, rather than get a return?
 

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Thread Killer
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6,768 Posts
Yeah that sucks. Hope you weren't cutting it close with the S2k payments this might make things a bit more difficult for you.
 

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Doesn't have E.D.
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3,824 Posts
Discussion Starter · #7 ·
I'm not sweating lower checks, but this owing thing is going to be rough.

I did a tax calculator thing on h&r block.com and it said I would be getting $800 back, This whole ordeal is confusing me, looks like I'll just have to wait and see.
 

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Doesn't have E.D.
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3,824 Posts
Discussion Starter · #10 ·
Well, look at how much you got back last year. State and Federal. It's going to be quite a bit lower this time around.
well I wasn't with my current employer a full year last year.. only about 7 months or so, I got back around $500

Oh well, thanks for your help guys, I'm just gunna cross my fingers and get this mess taken care of.
 

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Show me them boobies!
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5,135 Posts
You could live by yourself and claim 73. Granted, you'll probably get about $.25 withheld but when it comes time to file you'd be screwed. The # of Dependants just tries to get it to where you get more now and less on a return. You're not making interest on taxes withheld so if they withhold $1000, you lost interest that you COULD have made and uncle Sam took the interest instead. What a douchebag. Usually people don't worry about it because they would have spent the money on peddy shit, and now you get back a nice chunk of change so you can splurge on something big instead. I use the majority of mine to pay for my 6 months insurance...no splurging for me :(

Yeah, don't wait until next season to get your W4 fixed, do it next time you're at work so it goes into effect ASAP.
 

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Aggressive weiner Dogs FTW!
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6,775 Posts
Seriously anyone who goes to "a tax place" is just asking to get screwed. It does not cost that much to have someone who really knows what they are doing do your taxes. The guy I used saved me from having to pay around 8g's, the people at te "tax places" iss all kinds of shit.
 

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No longer the monkey butt!
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1,248 Posts
I just use taxact...its cheap and my tax situation is retarded simple. Oh, and I am an accountant...so I could always do it the old fashioned way without any trouble.
 
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