I have 2 jobs 1 claim 1 on my W2 The other job i claim 4 on W2 will this have a negative impact on my tax rtrn

Question

want to know if having two different claims on two different W2 will have a problem with the IRS

Answer 1

It depends on how many dependents, deductions and credits you actually have. But the job where you claim 4 will most likely lower your refund from what it would be without that job, and might cause you to end up owing instead of getting a refund.

Answer 2

Unless you have a total of 5 or 6 exemptions it's very likely that you will be underwithheld at tax time and will have a bill to pay.

The problem is that the withholding tables are based upon your having only one job. They allow for the standard deduction and exemptions that reduce your taxable income. Since you have 2 jobs, way too much will be considered for the deductions and exemptions, resulting in too little tax being withheld.

Look at page 2 of Form W-4. There are 2 worksheets there for figuring the impact of itemized deductions and multiple jobs. Fill the multiple job section out as best you can to see what the correct withholding position will be. If the 2nd job pays a fair amount compared to the first job, you'll likely need to claim zero on both as well as designate extra withholding from one or both paychecks.

Answer 3

You can claim one exemption for every $3400 in deductions that you plan on having regardless of how many jobs you have. It doesn't matter how you split the exemptions. In your case, you will need to have at least $17,000 in total deductions to break even at tax time.

The problem with having more than one job is that you generally have a main full time job and part time job that doesn't pay anywhere near your full time job. This is what causes problems at tax time due to the withholding. Each job withholds taxes independent of each other. It is up to you to make sure that taxes are being withheld properly.