I accidentally filed as head of household 3 yrs ago on my w-4. I always file as single on my fed taxes. How is this affecting my checks?
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My tax filing status is single, but my W4 has HoH (mistake) am i getting or losing more money here?
#1 by Carla Hailey on August 3rd, 2011
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you may fill another form or request to change your status. This may affect if you will not take further action.
#2 by Bostonian In MO on August 3rd, 2011
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There is no Head of Household status on Form W-4. If you qualify to file as HoH, you just take an extra withholding allowance. Check with payroll and see how many allowances you are claiming, and adjust it if needed.
#3 by Dave on August 3rd, 2011
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Then just submit a corrected W-4. No big deal.
#4 by Chas on August 3rd, 2011
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Not much. HOH and single are the same withholding. The real question is your tax return. If you get refunds you need to decrease withholding by adding more allowances, if you pay you need to reduce them.
#5 by SmartA$$ on August 3rd, 2011
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This is causing you to have less taxes taken out of each paycheck. The result is more take home pay each payday, but a smaller tax refund. If the withholding amount is too low, it can cause you to owe taxes when you file your return.