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what are my options for income tax filing status?
i am single with no kids and i over pay and got a nice refund at the end of the year. Is it possible to not over pay so much but still not owe at the end of the year?
5 Answers
- Anonymous1 decade agoFavorite Answer
Take your most recent paycheck stub and go to the withholding calculator at the IRS website, just input the information as you go along it will give you a guestimate of how much you will have withheld this year and give you suggestions on what you need to report on your W4
- 1 decade ago
The worksheet you fill out when you first got hired to determine the number of dependents you have determines how much taxes are taken out. The worksheet is merely a guideline. To have less taxes taken out of your paychecks, check with your Human Resources officer to fill out a new W-4, and increase it by one. If you claim 1 (just yourself) but want to even it out a little, claim 2. If you own a home (since the interest is deductable), you may even get away with claiming 3.
- Wolf HarperLv 61 decade ago
Sure, just tweak the numbers on your W-4 form you filed with your employer. They give a worksheet to help you find the right number of allowances, but I find trial and error can also be useful.
You can put any number of allowances on your W-4, but you will get in trouble if it results in under-withholding and a significant tax bill due.
- JudyLv 71 decade ago
If you got a significant refund, you could increase the number of allowances on your W-4 for the next year.
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- Anonymous1 decade ago
Possibly by changing your W2 status to 0.