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3 Answers

How Do I change the number of dependents on my W4 and What form do I use to do so?

Asked by: livingeditor 1284 views YA Discussion

Im married with 3 kids and a working spouse who put single and 0 dependents on his w4. I wanted to know what can I put to maximize my refund.

3 Answers

  1. acmeraven on Oct 22, 2012 Reply

    If you also put down single and zero your refund will be maxed. All you need do is fill out and give a new W4 to payroll or whoever. A new W4 will automatically replace and eliminate it’s predecessor.

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  2. Bash Limpbutt's Oozing Cyst© on Oct 22, 2012 Reply

    The idea is not to maximize your refund but to come as close as possible to breaking even at tax time. If you want the maximum refund possible, have your employer withhold all of your wages for taxes. Good luck making ends meet that way, however!

    A tax refund isn’t some kind of bonus that you get, it’s nothing more than change back for a prior overpayment. If you buy something at Wally World for $ 5 and give the cashier a $ 20, you get a “refund” of $ 15. You’d go postal if the cashier told you that you’d have to wait until next year for your change, so why are you so willing to let the government keep YOUR money that long? That just does not make any sense at all.

    When both spouses work it’s a good idea to use the IRS withholding calculator at http://www.irs.gov/Individuals/IRS-Withholding-Calculator . Have your most recent pay stubs in hand when you go there. Then run the numbers again just after the first of the year since the answer you get today will take into account any excess or shortfall to date.

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  3. tro on Oct 22, 2012 Reply

    submit a new W-4
    first you need to read the form more carefully if you are married and your wife works as well, you both can’t claim all the children and expect not to owe when you file your income tax return
    you can find help at http://www.irs.gov by finding the W-4 calculator to complete the form correctly

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