went to pick up my check, i found out today they have been with holding me as claming 0 ..... my w/4 stated exempt. do they have to pay me back or can they make me wait untill end of year and do the correction now?
2007-04-05 09:45:20 · 6 answers · asked by asecndtime 2 in Business & Finance ➔ Taxes ➔ United States
You can get it changed now...all you have to do is refill out your W2 and W4's.
Now you did 0 on one and exempt on the other one your not going to get any money back.
Exempt doesn't take out any taxes therefore you owe money at the end of the year..unless you are in certain situations and it doesnt seem like you are.
Since you claimed 0 on the other one you have a higher tax withholding so its most likely going to balance itself out.
So you shouldnt actually get any money back from your employer anyways because yes as one was taking out a lot one was giving you all your money.
But get those changed asap because you really don't want that exempt to continue because you will end up paying at the end of the year.
2007-04-05 09:54:39 · answer #1 · answered by colie 3 · 0⤊ 2⤋
They can make the correction for future pays this year. Anything they've already deducted has already been forwarded to the IRS - you might have to wait until you file your tax return for that, or they might manage to correct it now - ask them what will happen.
If this wasn't your first paycheck, how is it you didn't notice this before now? And also, if you've been working for them since 2006 or earlier - filing exempt is only good for one year, and has to be refiled each year even if you work the same place.
2007-04-05 22:48:04 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
For 2007, they should make the correction in their files, but you will have to wait until tax time 2008 to get the money back -- they don't pay you back because they don't have the money, it went to the Feds already, usually as a lump sum on their employees.
2007-04-05 16:51:08 · answer #3 · answered by Alison R 2 · 1⤊ 0⤋
I would think that you would just get paid back by the government at the end of the year when you file your taxes. I dont think employers can pay you back for taxes being taken out incorrectly. but I am not sure ...sorry
2007-04-05 16:48:58 · answer #4 · answered by madeline4477 1 · 0⤊ 0⤋
You have to wait until the end of the year. My employer did this to me as well. Just make sure they update your withholding for future paychecks.
2007-04-07 17:26:18 · answer #5 · answered by Amy F 3 · 0⤊ 0⤋
They are able to adjust your witholding and pay you back. However, they will likely tell you that they are changing it to 0, and any overpayment will be returned through your tax filing.
2007-04-05 16:51:01 · answer #6 · answered by Isaac 4 · 0⤊ 0⤋