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.
Related Resources
Learn more from our tax experts at H&R Block about the premium tax credit and how to receive it as an advance credit or claim it as a refundable credit.
Spending your time volunteering is a great way to give back. Learn more about the tax benefits for volunteer work when filing your taxes at H&R Block.
Looking for more information about your Vermont refund? Find out details on how to check your refund status, who to contact, and more from H&R Block.
Can you deduct the cost of your tax software? Learn more from the tax experts at H&R Block.
