can i add my daughters to my w-4 forms as exempt withholdings even though there mothers claim the as dependants....will i get in trouble with the i.r.s
2007-09-12 19:40:07 · 4 answers · asked by mr122 1 in Business & Finance ➔ Taxes ➔ United States
You can add your 2 daughters to your W-4 forms, and no you won't get in trouble with the IRS, but by doing so you might end up owing taxes at year end, since you are claiming 2 exemptions on your W-4 that you won't be claiming on your tax return. You might have too little withheld from paychecks. www.paycheckcity.com is a paycheck calculator that can help you determine exactly what you should be claiming for your W-4.
2007-09-13 01:59:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you are not claiming the children, do not add allowances to your W-4.
This will cause too little withholding to be taken from your pay and you will have a balance due when you do your taxes.
If you add two more allowances to your W-4, you will not "get in trouble" except your balance due may be higher, and that may cause you to pay a penalty for failing to pay on time, plus interest.
2007-09-12 19:53:05 · answer #2 · answered by ninasgramma 7 · 0⤊ 0⤋
If they aren't your dependents, then NO don't add them to your W-4. You'd end up owing at tax time, and paying possible penalties in addition to what you owe.
2007-09-13 18:04:28 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
trouble.........the feds will get ya
2007-09-12 19:47:50 · answer #4 · answered by clever1 7 · 0⤊ 0⤋