Whats the correct way to fill out a W4 in my situation?

Question

Single Male
Can claim as independent
One Job
No dependents
No head of household

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

IHow do I fill out this form without using the worksheet on page 2.
When I am done i end up with 2. Everyone tells me I should only have 1 for my case.

What am I doing wrong?

-E

surfer grl - B asks

B Enter “1” if:
● You are single and have only one job; or
● You are married, have only one job, and your spouse does not work; or B
● Your wages from a second job or your spouse’s wages (or the total of both) are $1,000 or less.


I enter 1 because I am single and have only one Job. Is this not correct?

Answer 1

it should really depend on your objectives. if you have a good head financially, you would file single and claim 9 or 10. your paychecks will be greater, but it will be up to you to "invest" that money so you can pay your taxes when they are due.

if you file single and claim 1 (yourself), you will probably have a small refund or owe a small amount at the end of the year. this, of course, is provided that you don't have any weird transactions. (didn't buy/sell a house, no farm income, etc.)

Answer 2

You are probably not doing anything wrong. The worksheet will tell you to claim 2 in your situation. The IRS provides an on-line calculator to help match your W-4 to your actual tax liability. The calculator will give an estimated $ amount that you would owe or receive as a refund for the withholding amounts closest to the number recommended.

Answer 3

Whether you put 1 or 2 is up to you. The more allowances you claim on the W-4 the less taxes are withheld and the less refund you'll receive when you file your tax return or even owe taxes. Reporting 1 should be fine, the form is not reported to the IRS it's just for the employer's records.

Answer 4

That is puzzling. They've changed the forms since the last time I had to fill one out(15 yrs ago). It does say at the bottom that your total may not be the same as what you claim on your tax return. I would call the IRS help line ( you can find the # in the government section of your phone book) and ask them to explain it to you. Since it is not tax season, you will be able to talk to a real person quite quickly.

Answer 5

Are you putting a 1 on lines a and b. You should have a 1 in line b only. A is for single and b is for married.