is my tax liability zero? or what is my tax libiliaty?

Question

In the past a friend of mine advised that it is possible to change my W-4 to say exempt for a single pay period and then back again after wards. My payroll is saying that I have to make sure that I am able to. I wanted to know how I would know because I do not want to get into trouble. I did at one point have my w-4 as exempt for an enitre year at work by mistake. I did not get in trouble I just didnt get very much of a tax return. I am married, I am the only one working and we have 4 kids. I make under 40K. Thank you so much for taking the time to read this and help.

Update:

*** thank you for all the answers so far*** ok so last tax year I didn't have to pay taxes even though I had myself as exempt and I did receive a tax return still. When I spoke to a person that is a tax advisor I think he used the words no tax liability

Anonymous · Accepted Answer

You get out your tax return.  You look at the total tax line, which on a 1040 or 1040A is the one just before the withholding line.  Either it's zero or it's not.

Slickterp · Answer

"In the past a friend of mine advised that it is possible to change my W-4 to say exempt for a single pay period and then back again after wards"  -  If you are nto actually exempt, it is illegal to file as such at all, ever, for even one pay period.

tro · Answer

married, filing jointly your non taxable income is probably $34100, any tax liability on  $5900 will probably be eliminated with your child tax credit, if all four children are under 17 in your household
more than that earned income and 3 children allows you the EIC credit which can result in a refund

Wayne Z · Answer

Tax advice gotten from friends, family and co-works is wrong about 98% of the time.

Your friend is wrong.  Your company is correct.

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is my tax liability zero? or what is my tax libiliaty?

4 Answers