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.
A personal exemption reduces your taxable income. You may be able to claim one for yourself, your spouse and dependents. Learn the rules with H&R Block.
Learn more about the potential tax benefits of charitable holiday giving. Your holiday donations may boost your refund, depending on the organization.
Learn more about tax filing requirements and get tax answers at H&R Block.
Free tax software is available online at H&R Block. When you file your taxes online you could qualify for free tax filing online.