When my husband got hired for a job he filled out the W2 form and filed 0 so the maximum taxes would be taken out. A year later he got his W2 in the mail and it said he filed 1 and he owed the IRS 714.00. He tried talking to his employer and they shunned him and said there was nothing he could do. What would be the best course of action we can take. We do not want to drain our savings for a mistake that his employer made.
1 Answer from Attorneys
The W-4 is the form you give your employer to request a certain number of dependents. The more dependents listed, the less tax is withheld per paycheck. The W-2 is provided to you at the end of the year. It tells you how much tax was withheld during the entire year. The W-2 doesn't tell you how much tax you owe; it only tells you how much was withheld from your pay. Once you do your tax return, you would know whether you overpaid or underpaid. Regardless of the number on your W-4 and how many dependents he claimed, if he underpaid, he owes taxes, and he will need to pay them. You can decrease your withholding number anytime by completing a new W-4 and claiming less dependents. That way, you will pay in more tax throughout the year and not have a tax liability come April 15.
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