Question about Minor student and filling out a W4

[Tuffcookie]

Youngest DS finally got a job!!!

He came home with tons of paperwork. One of the forms in the packet is a W4, asking how many deductions he wants to claim. I am a single mom and claim him on my taxes. I thought he should file 0, and wait for a refund after he files his return.

He went to his dad's yesterday and his dad had him change it to 3! He and DS already turned the form in!

Doesn't that mean problems for me when I go to file my return next year?

TC

 

[brios86]

Chances are that his income will be pretty low so he won't have to pay any taxes in the end. I like to put down 0 so then I can get a larger refund in my return. I don't think it will be a problem for you but I'm no tax expert.

 

[lovepurple]

It won't be a problem for you but depending on how much he makes, he may end up owing some taxes if they don't withhold enough from him. My DD claimed 1 deduction on her W-4 and ended up owing about $50 because I claim her as a dependent. $50 isn't a lot of money, but to a teenager who already spent all that money it can seem like a lot.

 

[AKL_Megs]

When I got my first job, the first year, I accidentally claimed "1". By tax time, I ended up owing Uncle Sam something like $300... and I had only earned about $4000 that year!

Isn't there any way it can be changed?

 

[Tuffcookie]

AKL Megs wrote:
When I got my first job, the first year, I accidentally claimed "1". By tax time, I ended up owing Uncle Sam something like $300... and I had only earned about $4000 that year!

Isn't there any way it can be changed?


Alright, I just got off the phone with oldest DS, who has 2 degrees in finance. He said I shouldn't have to worry because youngest DS will probably not make that much. (I hope he's right)

TC

 

[luvmarypoppins]

Hey Cindy, I think my ds all do 0 too and we claim them all. Can I be nosy and ask where Alex got a job? and hooray for him!!!

 

[LilyWDW]

I would still have him change it... doesn't make an sense for him to have put a 3. I have always personally put a 0.

But don't worry, it should be fixable. I know where I worked we could contact HR and fax a form. It takes a paycheck or two for it to start, but it will change his deductions.

 

[Cheshire Figment]

If he will be making less than $5,000 during the year he should have checked the block for no withholding. If he makes less than $5,000 and has withholding taken out then he will need to file a tax return to get a refund.

If his first paycheck has not been processed yet he should give a replacement W-4 to the employer and tell them the original was a mistake.

Mike (CPA Retired)

 

[Tuffcookie]

luvmarypoppins wrote:

Hey Cindy, I think my ds all do 0 too and we claim them all. Can I be nosy and ask where Alex got a job? and hooray for him!!!

He got hired by Acme (a grocery store chain in our area).

TC

 

[mamacatnv]

An employee can change their W-4 as often as they like. I have several employees that change theirs several times a year.

Claiming 3 will withhold less than claiming 0 - if he will make less than about 5K he could claim exempt. Reminder to your son Fica (Social Security and Medicare) is automatic and all employees pay it. This came as a surprise to my son with his first job.

We had son claim exempt until he was 18 and working more than a few hours here and there.

Congrats on the Job