Suppose you filed your taxes and received a small refund from the IRS. What would have been the impact on the refund amount if you had increased the W-4 allowances for that tax year?

The refund would be smaller or you may owe taxes

The refund would be larger

The refund would not change

Question

Reese Campos

Business

27 July, 02:15

Suppose you filed your taxes and received a small refund from the IRS. What would have been the impact on the refund amount if you had increased the W-4 allowances for that tax year?

The refund would be smaller or you may owe taxes

The refund would be larger

The refund would not change

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Answers (1)

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Ahmed Rosario · Answer 1

the refund would be largerw-4 is the form that you signed so your employer could withdraw a portion of your payment to be allocated to federal income tax. The fewer W-4 allowances you take, the more is withheld from your paycheck for tax purposes because the amount of tax payment that you have to pay is also increasing

Suppose you filed your taxes and received a small refund from the IRS. What would have been the impact on the refund amount if you had increased the W-4 allowances for that tax year?The refund would be smaller or you may owe taxesThe refund would be largerThe refund would not change

Suppose you filed your taxes and received a small refund from the IRS. What would have been the impact on the refund amount if you had increased the W-4 allowances for that tax year?

The refund would be smaller or you may owe taxes

The refund would be larger

The refund would not change