If I accidentally claimed the wrong allowance amount on my W-4. What will happen?
If you accidentally claimed the wrong allowance amount, you won’t owe a penalty. However, you’ll have a reduced or increased tax withholding on your paycheck.
This reduced / increased amount will lower / raise the amount of taxes you paid. It might cause you to owe taxes or have a larger refund when you file.
Find out more about the gross cap on medical expenses with help from the tax experts at H&R Block.
Want information about your Illinois state refund? Look no further, as H&R Block provides details on how to obtain your state tax refund in Illinois.
Do you care for a totally disabled relative? Find out if you can claim them as a dependent on your taxes. Get tax answers from H&R Block.
Will you get a refund for an energy tax credit? Learn more about refundable tax credits from the tax experts at H&R Block.