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
Can you apply for a dependent care credit if you have a disabled spouse? Learn more from the tax experts at H&R Block.
There have been some changes to the Earned Income Credit. Learn how your eligibility and tax return may be affected by these changes at H&R Block.
Maximize tax savings and minimize fees and penalties with a personalized tax calendar. Learn more about income tax dates at H&R Block.
Do you need information about claiming childcare exemptions for a babysitter? Learn more from the tax experts at H&R Block.