You have the option of electing to claim married, but withhold at the higher single rate and you may also specify an additional amount of your chosing. I had a similiar situation and both my husband and I changed our W-4's to married but withhold at the higher single rate. We found that was the necessary adjustment to break even at tax time. I knew another couple that did the same and had an additional $20.00 per pay period and for the first time in five years got a refund. They said it was like a savings account to them during the year and it still seems to be working for them. Contact your payroll administrator and they will give you the forms to fill out. Hope this helps.
Welcome New User! ( Create Account | Sign In )
| You are here: Home Categories Taxes Why enough taxes are not taken out in the first pl... |
This is answer 1 / 1
View All Answers for Why enough taxes are not taken out in the first pl
Question
Submitted 335 days ago...
Why enough taxes are not taken out in the first place if both husband and wife have listed 0 dependents on W4.
I posted a question earlier today asking if anyone knew why if neither my husband nor I claimed any dependents/allowances on W4 it wouldn't amount to enough taxes being taken out each paycheck to cover the actual taxes, why we'd have to pay in at the end of the year. W4 has always been filled out this way. I don't think the question was understood. I don't care about a refund, just want to pay in correctly in the first place, not later. Question is how can this not be enough when you're not even claiming yourselves, when your'e indicating to take enough out as if there are no dependents?
Answer
Submitted 335 days ago...
Answer This Question Now
If your Answer is chosen as the “accepted” answer, you will earn ongoing royalties on
this thread.
Simply type your Answer in the box below and post your answer.
Related Questions
This Question has not been awarded yet.
