RGElectra80
Topic Author
Posts: 423
Joined: Sat Dec 13, 2008 5:40 pm

Income Tax Question

Sun Apr 12, 2009 1:19 am

I got a new job and I'm trying to decide if I should put a 1 or 2 on my tax form. I already put a 2 for now, but I'm wondering about the tax day consequences.

I have usually put 1, but I put 2 for now since I'd rather have a bigger, steady paycheck than a once a year lump sum at this point in my life. I know that by doing so, I'm walking a fine line between getting a refund, although smaller, and paying the IRS back.

If you need any more particulars about this to help me make the decision, feel free to IM me.

Thanks!
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AirframeAS
Posts: 9811
Joined: Thu Feb 05, 2004 3:56 pm

RE: Income Tax Question

Sun Apr 12, 2009 3:29 am

If you want a tax refund, put down zero.
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EMBQA
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Joined: Sat Oct 25, 2003 3:52 am

RE: Income Tax Question

Sun Apr 12, 2009 3:43 am



Quoting AirframeAS (Reply 1):
If you want a tax refund, put down zero

Anyone that gets a refund has only been giving the Gov't a zero interest loan all year. Use the W2 work sheet and answer the questions...it will give you the correct amount to claim.
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fr8mech
Posts: 6789
Joined: Mon Sep 26, 2005 9:00 am

RE: Income Tax Question

Sun Apr 12, 2009 2:49 pm

I'd much rather pay $100 bucks on April 15th than get $100 back.
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steeler83
Posts: 7392
Joined: Sat Feb 25, 2006 2:06 pm

RE: Income Tax Question

Sun Apr 12, 2009 10:09 pm

I usually put a 1 to claim for myself. I am a full-time graduate student, and I don't even make that much. My new job that I posted about 2 weeks ago is going to pay me 10.50 an hour at 37.5 hours/week.
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