Orange Crush
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I would highly suggest you claim 0...basically that way you can pretty much ensure you won't be oweing the government when tax time rolls around. |
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v b
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You can't legally put down exempt. The question starts by asking if you owed in tax in 2007. Your income in 2007 was $15000! At $300 biweekly, your income is too high in 2008 as well.
If you end up owing this year, the IRS can and will send your future employers a lockin letter stating that you can only put single/1 on your W-4 from now on. That will prevent you from ignoring the instructions. |
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Judy1
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Where does it leave you? It leaves you owing around $1060 for federal income tax when you file, plus possibly a penalty since you owe over $1000. Get the "exempt" changed right away to zero allowances if you haven't already. Even at $300 biweekly you will owe some tax. |
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Blue Rose
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You should file single on the w4. Claim 1 so the proper tax is deducted from your pay.
File a federal 1040(EZ) and State income tax return - there is an area where you check off that someone else claims you as a dependant. |
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bostonianinmo
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That's going to cost you a wad. Over $1,000 in taxes plus penalties and interest for underpayment of tax, and potentially a $500 penalty for filing a fraudulent W-4. The IRS may also issue a Lock Letter, directing your employer to withhold at Single 0 or Single 1 regardless of what you might be able to claim.
Whatever gave you the idea that you could claim EXEMPT? You're clearly not entitled to do so and if you read the W-4 you'd know that. |
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regina falange
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when your filling out forms for work like the w2 and such and you want to know what number to claim 0,1 exempt you can only claim exempt if your a full time student and you have or will be making less than 5,000 for the year. what i did was claim exempt until i made 5,000 and then claimed 0. exempt means you get most of your money in your check. You might have to pay now that you made over 5,000 |
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gobonzzo
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You should only claim 'exempt' on a W-4 Form if you had no Federal tax liability for the prior year and expect to have no tax liability this year. If, as a result, you underpaid your tax you may incur an underpayment penalty when you file. What your parents do with regards to claiming you as a dependent has absolutely no bearing on your W-4 form; 'exempt' in this case does not apply if they claim you as a dependent.
Most likely when you file you will have a substantial tax due. You should not have claimed exempt on the W-4. |
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smartypants909
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You won't be fined for claiming exempt on your W-4, but with all the money you made you may be responsible for paying some taxes. If you claim single, you have a chance to get a refund. When you do file your taxes, you need to check the box that asks if someone else can claim you as a dependent. |
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