I have been working in the U.S since October 06. I got married this year in March and my spouse started working in September this year.
I still haven't updated my W4 for the year with my employer.Does this have any future consequences? Can i submit my tax returns (joint or seperately) with my wife next year and recieve the extra withholdings ?
2007-10-11 07:44:14 · 6 answers · asked by kulbir_85 1 in Business & Finance ➔ Taxes ➔ United States
I would wait to adjust your payroll withholding until you have done your tax return for 2007. You may owe, or you may be getting a refund, it is hard to tell.
If you have your taxes done by a preparer, the preparer can do an estimate for you and tell you how to change your W-4 to break even or result in the refund or balance due you desire.
2007-10-11 07:53:50 · answer #1 · answered by ninasgramma 7 · 2⤊ 0⤋
Q. How soon after marriage should one send an updated W4 to the employer?
A. Immediately, although there is no penalty for failing to do so
Q. I still haven't updated my W4 for the year with my employer.Does this have any future consequences?
A. The wrong amount was withheld from your pay
Q. Can i submit my tax returns (joint or seperately) with my wife next year
A. Yes, if, and only if, either you are still married at the end of the year or one of you dies while you are still married. No, if you divorce during the year or get an annulment at any time (including a future year).
Q. and recieve the extra withholdings ?
A. Yes, if there are extra withholdings. If too little was withheld, then you have to repay it, with penalties or interest.
2007-10-11 14:53:54 · answer #2 · answered by StephenWeinstein 7 · 1⤊ 0⤋
You don't have to ever change the W4. You'll just have more withheld than you need for your taxes and will get a bigger refund when you file your taxes.
Of course, it's not a good idea to let the government use your money interest free. So updating that W4 sooner rather than later would be a good idea.
2007-10-11 15:13:52 · answer #3 · answered by bdancer222 7 · 1⤊ 0⤋
You can always do a W4 form at any time. Check with your payroll clerk at work. Do not forget your state taxes as well. Married filing separately is the least desirable filing status to use. You would do better financially to file "Married Filing Jointly". If you try it both ways you will see for yourself.
2007-10-12 08:15:22 · answer #4 · answered by Gary 5 · 0⤊ 0⤋
as long as you have a marriage certificate you can update immediately and can file married for tax year 2007
2007-10-11 17:28:45 · answer #5 · answered by goldenboyblue 3 · 0⤊ 0⤋
don't know -- ask employeer human resources or ask a tax advisor like h & r block.
2007-10-11 14:52:18 · answer #6 · answered by Anonymous · 0⤊ 3⤋