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Yes this absolutely allowed and actually proper..and the way the calculation of the W-4 is supposed to be done. Many people, for many reasons, have financial situations where the withholding for the number of dependents they will have a right to claim results in much more tax being estimated than is needed....they get a large refund. The larger number on the W-4 can prevent this.
What else can I help you with?
Can you claim more than two dependents on taxes?
You can claim as many as you actually have, according to the rules on what is considered a dependent.
What happens to someone for not filing there taxes and claiming more dependents then they had?
they get taxed more and if they don't pay that then they get sewed
How much will you owe in taxes if made 56000 filing married filing jointly with no dependents in puerto rico?
I claimed 0 and made 56,000. Shoud I owe
If 2 minors get married and live with parents do the parents claim them as dependents on their taxes?
yes because they are minors
What happens if you have the wrong number of dependents on your taxes?
If you claim the wrong number of dependents on your taxes, it can lead to either underpayment or overpayment of taxes. Claiming too many dependents may result in a larger refund initially, but could lead to penalties and interest if the IRS determines you owe more tax. Conversely, claiming too few dependents could mean you owe more tax than necessary, resulting in a smaller refund or a tax bill. It's important to accurately report your dependents to avoid these issues.
Do I have to claim dependents on my taxes?
You are not required to claim dependents on your taxes, but doing so may help you qualify for certain tax benefits.
Can I claim an undocumented person on my taxes?
No, you cannot claim an undocumented person on your taxes. Only individuals with a valid Social Security number or Individual Taxpayer Identification Number can be claimed as dependents on tax returns.
If I claim 2 dependents on my taxes, will I owe taxes?
Claiming dependents on your taxes can reduce the amount of taxable income you have, which may lower the amount of taxes you owe. However, whether or not you owe taxes depends on various factors such as your income, deductions, and credits. Claiming dependents alone does not determine if you will owe taxes.
Why are there no federal taxes taken from your paycheck?
There are two reasons you may have no federal taxes taken is if you claim exempt on your W4 or if you claim a higher amount of dependents.
Can you claim more than two dependents on taxes?
You can claim as many as you actually have, according to the rules on what is considered a dependent.
What happens to someone for not filing there taxes and claiming more dependents then they had?
they get taxed more and if they don't pay that then they get sewed
What exemptions should I claim on my taxes?
When determining which exemptions to claim on your taxes, consider your filing status, dependents, and any eligible deductions. Common exemptions include the standard deduction, personal exemptions, and dependent exemptions. It's important to review the IRS guidelines and consult with a tax professional for personalized advice.
How much will you owe in taxes if made 56000 filing married filing jointly with no dependents in puerto rico?
I claimed 0 and made 56,000. Shoud I owe
What exemption should I claim on my taxes?
When filing your taxes, you should claim the exemption that best fits your personal and financial situation. This could include exemptions for yourself, your spouse, and any dependents you support financially. It's important to review the IRS guidelines and consult with a tax professional if needed to ensure you are claiming the correct exemptions.
Who can I claim as dependents on my taxes?
You can claim dependents on your taxes if they meet certain criteria, such as being a relative, living with you for more than half the year, and not providing more than half of their own financial support. This can include children, parents, or other qualifying relatives.
Do you need to file your auto insurance claim with your taxes when filing them?
Your auto insurance claim has nothing to do with filing your income taxes. You file your auto claim by notifying your agent right when the incident occurs so they can start working on the claim as fast as possible.
If 2 minors get married and live with parents do the parents claim them as dependents on their taxes?
yes because they are minors
