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.
Get a better understanding of taxes for immigrants, expats and green card holders. This guide helps answer basic questions about special filing circumstances.
Learn more about HSA tax deductions, including deducting medical expenses paid from an HSA account, with advice from the tax experts at H&R Block.
Can you deduct job hunting expenses from your taxes this year? Learn more from the tax experts at H&R Block.
Are 529 contributions considered tax deductible? Learn more from the tax experts at H&R Block.