Question

Dont want to owe taxes

Forum|Forum|1 year ago
February 27, 2025
2 replies
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hi im a single mother , i have 2 jobs with one dependent (she will be 14yrs old in december).

main job i make about 37,200 a year and second job i just started this week in which im estimated to make about 11k-12k this year. Due to a bankruptcy case i need to get a lesser refund at the end of the year (1500 or less) because anything more then 1500 i have to give up. Im currently head of house hold at work in my w4 and IT-2104 . Meaning im not getting no federal taxes taken out my paychecks for neither jobs . Will i end up owing irs ? Or will i see a refund? I dont know how to fix my w-4 around or my IT-2104. Any suggestions ? I dont know how many allowances to put in my IT-2104 or if it even matters. I was told the new w4 you cannot put dependents anymore . Dont know how true is that. I also rather see more on my paychecks .

JohnB5677

There are some things I can't figure out without seeing you tax return.

I haven't heard anything about changing the W-4, but things change quickly and with little notice.

You can claim exempt, write EXEMPT under line 4c. You may claim EXEMPT from withholding if:

Last year you had a right to a full refund of All federal tax income and
This year you expect a full refund of ALL federal income tax.
NOTE: if you claim EXEMPT you must complete a new W-4 annually in February

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A

Aleo12Author

I did get my federal and state tax refund for 2024.

will claiming tax exempt have me pay a penalty ?
or is there a way to fill out my w4 and IT-2104 im where i can see more in take home pay instead of my tax refunds?

M

MAK70

The W4 worksheets are deigned to calculate so you owe no tax and have a small refund (if any). so the best thing to do is complete the forms as accurately as you can and check again in October or November (especially if the second job has fluctuating income). TurboTax and payroll companies use the IRS tool Tax Withholding Estimator | Internal Revenue Service. @Aleo12

O

Opus 17

Employee

Don't claim exempt on your W-4, that should never be done unless you are legally exempt for some reason (such as, you are a diplomat for a foreign country).

If you fill out the W-4 correctly, it will withhold the correct amount based on your income and expected deductions and credits.

The W-4 is 4 pages, not just the front page you turn in. Page 2 has instructions and page 3 is a worksheet to use when you have two jobs, so you can make the right adjustments to the W-4 to account for having 2 jobs. You will want to calculate the adjustments one time, then fill out new W-4s with both employers at the same time.

https://www.irs.gov/pub/irs-pdf/fw4.pdf

Or you can use the online calculator, looks like you are getting some help with that.