My husband and I both currently claim zero on our taxes which means they withhold alot. Should we expect to get everything back we have payed in???
2007-10-22 17:57:47 · 9 answers · asked by Nessie H 2 in Business & Finance ➔ Taxes ➔ United States
What amount of refund you will get depends upon your combined income (if you are filing as Married Filing Jointly). At least you won't owe any taxes.
2007-10-22 18:24:59 · answer #1 · answered by MukatA 6 · 0⤊ 0⤋
Heck no! You may or may not get a refund at all. Whether you get a refund depends upon your tax liability and how much was withheld. If more was withheld than your tax liability you'll get the excess back. If less was withheld, you'll owe.
To figure out how you should file your Forms W-4 at your jobs, you shoud sit down together and complete a dummy W-4 using your combined income and the instructions and worksheets on page 2 of the form. This will tell you the total number of withholding allowances you should claim between the two of you. The general rule of thumb is that the person with the higher income should claim all of the allowances and the other should claim zero. If your incomes are nearly equal you could split them between yourselves.
Depending upon your specific tax situation it's entireley possible that claiming zero is correct for you and you won't get much back at filing time. I know nothing of your tax situation and you have provided no details at all so it's impossible to say how much, if anything at all, you'll get back when you file. I can say with confidence that you will NOT get "all" of it back -- not even close.
Ignore the idiot who says the income tax is a fraud. The fraud is that assinine movie. Don't waste your time on that moron's advice.
2007-10-22 23:06:50 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
For every dependant you claim you pay less taxes at the end of the year. By claiming zero you are telling your work to take out enough money for just you and no dependants. This is the right thing to do and you should not have to pay anything aditional at the end of the year, most likely you will get money back.
2016-05-24 23:23:54 · answer #3 · answered by ? 3 · 0⤊ 0⤋
Unless your total income between you is under $17,500, or under around $38,000 and you have a dependent child or two, you won't get everything back that you paid in. But you will probably get something back.
If you'll post again with how much you make together, and number and ages of children, somebody can give you a better answer.
2007-10-22 18:04:09 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
You won't get everything.
The answer is: It all depends.
Personally, I have been claiming "0" all year and I am still close to breaking even.
2007-10-23 01:56:23 · answer #5 · answered by Wayne Z 7 · 0⤊ 0⤋
I expect that would depend on your income. If you're in a high income bracket, they may still want more. If lower, you should see some sort of a refund.
2007-10-22 18:06:37 · answer #6 · answered by Anonymous · 0⤊ 0⤋
income tax is a fraud it isn't legal you don't have to pay watch the movie (freedom to fascism) it's scary it's in your constitution. Problem is if you lie on a sheet of paper related to tax they'll have a clause that says something like if you sign this illegal piece of paper the IRS can rape you and your children watch the movie income tax is a fraud in your country and mine (Canada)
2007-10-22 18:11:56 · answer #7 · answered by Anonymous · 0⤊ 3⤋
you won't get "everything" back but you'll probably get a refund.
2007-10-23 03:34:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
EXPECT AN AUDIT
2007-10-22 18:02:20 · answer #9 · answered by Anonymous · 0⤊ 5⤋