Tax Question?

Question

My husband put 0 down on his w4's because his employer said that it would take more taxes out, but he is married and does have a child. When we fill our w2's can he still claim us and be eliagable for earned income, we were within the limits as far as how much he made this year, for the earned incom but will him claiming 0 change things.

Answer 1

As the first two answers implied, the IRS has no idea what you put on your W-4. Only your employer sees it. Claim everything you are entitled to on your 1040 (you don' fill out a W-2, your employer does). After you complete your 1040, divide your refund by the number of times you are paid each year. That is the amount you could increase each paycheck without owing the IRS if you claim more allowances on your W-4.

Answer 2

A person can put down any number of dependents up-to 13 on W-4 without proof, this only determines the amount withheld for taxes. The W-2 is provided by employer showing gross income and amount withheld for taxes. Only on your 1040 do you have to list dependents and SSNs.
Also by declaring less dependents, more taxes is withheld, providing a interest-free loan to the government. By declaring real number or extra dependents, money can be invested, even in a passbook savings, you can come out ahead.
Hope this helps.

Answer 3

The fewere exemptions he claims on his W-4, the more taxes are withheld for him.

This has NO BEARING on how you will file your taxes. It just means he took home less money in each paycheck all year - and that your refund will be bigger than if he had claimed 1 or 2 expemptions.

Answer 4

What you claim on your W-4 affects your paycheck and has no effect on your year end tax filing.

You file your year end taxes on form 1040, and the W-2 just tells you what you were actually paid and what was withheld from your paycheck.