2real4sum
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If the three dependents lived under your roof and you provided care for them for at least 6 months last year then yes. You can file head of household on your federal tax return and this will also increase your refund amount because this shows that you handled most if not all of the expenses, but you only get earned income credit for 2 dependents. I also claimed 3 dependents, 0 exemptions throughout the year( allowing the maximum legal limit of federal taxes to me withdrawn from my paycheck which was over $4000 for the year of 2007) my adjusted gross income for the year of 2007 was 33,000 and i received a federal tax refund of $8300. Your refund amount with the 3 dependents depends on your income, filing status, the number of exceptions that you claimed throughout the year( how much federal tax you allowed to be taken out of your paycheck each pay period) and if you are claiming any child care expenses. Claiming the child care expense also helps to increase your refund. Consult a professional tax preparer for more accurate details. |
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v b
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You are asking about "allowances" on your W-4, not dependents on your tax return.
Unless you have itemized deductions, you should stop at single/2, not single/3. |
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karen g
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I would suggest against it
The IRS doesn't like it much and in the long run you wont have a net gain unless you plan on putting the 'extra money' in an account for tax time.
If you dont, the interest on the money that youwill owe will exceed the actual money that you got if you are not careful |
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Judy1
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When you sign the W-4, it says that you are declaring under penalty of perjury that the info on the form is correct as you know it.
If you have some kind of credits that will still have you not owing at the end of the year, then yes you can claim 3 allowances. Otherwise, stick to 2. |
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Frank C
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I don't think you mean to say claim dependants. I think you are talking about how much taxes you have with held from you paycheck. You can certainly reduce the amount taken out, but have to be careful not to take too much out so that you will be underpaying on a quarterly basis. If your single with no kids and only take the standard deduction I would not recommend you do this strategy. |
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Gary
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You should only claim up to what you are entitled to on a W4 form. A W4 form can be completed at your place of employment. At the end of the year you do want to be owing more than $1,000 then you will have a penalty to pay as well. |
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10YS
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Ok....if talking about "allowances" on your W4!! I would definitely watch what you claim on this especially if you don't have any TAX CREDITS to claim at the end of the year, because you will end up owing and owing BIG!! I would stick with what everyone else is saying and stop at 2!! |
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Ruby G
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I don't know if it is "legal", but i do know people who get away with it and have yet to have any problems. |
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Jss
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If they are actually your dependents and don't qualify to be dependents of any one else.
A dependent can be your qualifying child or qualifying relative. Read: http://taxipay.blogspot.com/2008/03/requirements-for-claiming-dependent.html |
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alcanzenme si pueden
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in order to claim dependents you have to submit social security numbers,so i doubt that you could get away with it for long,the best way to do that is to exchange the number of dependents quarterly,this means that while you can claim up to 9 dependents from January to march it would suit you best to get a new w-2 in April claim single and head of household until June and repeat the same process for the next 6 months............................i don't commend this but its a good way around the system |
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Megg♥
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Suuuuure... if you want the IRS knocking at your front door inna few years... |
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Teddy
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I am single...no kids...Last year I claimed my 2 brothers but they moved out
of my apartment. Will I have to pay if I just claim myself? |
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