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By placing a ?0? on line 5, you are indicating that you want the most amount of tax taken out of your pay each pay period. If you wish to claim 1 for yourself instead, then less tax is taken out of your pay each pay period. 2. You can choose to have no taxes taken out of your tax and claim Exemption (see Example 2).
Your number of qualifying children under age 17 multiplied by $2,000 will go into the first box. The number of other dependents multiplied by $500 will go in the second box. The sum of those two numbers will go on line 3.
Hear this out loud PauseJust divide the amount you usually pay in federal taxes by the number of paychecks you receive in a year to find out how much extra should be withheld each pay period.
Simply add an additional amount on Line 4(c) for "extra withholding." That will increase your income tax withholding, reduce the amount of your paycheck and either jack up your refund or reduce any amount of tax you owe when you file your tax return.
On line 4(c), you can instruct your employer to withhold an extra amount of tax from your paycheck. Alternatively, don't factor the extra income into your W-4. Instead of having the tax come directly out of your paycheck, send estimated tax payments to the IRS yourself instead.