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Sharpe516
Sharpe516 Member Posts: 2 Newcomer
edited January 15 in General

if my job was not taking federal out of my checks, how does that effect my refund for 2023?

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  • CarleneF
    CarleneF FreeTaxUSA Agent Posts: 27
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    It depends on your situation. The main idea of having federal taxes withheld throughout the year is to make it so you don't owe taxes when you file your return. If you don't have anything withheld during the year, you might end up owing all of the tax plus penalties when you file your return. However, if you qualify for credits, it's possible that you can still receive a refund even though you didn't have anything withheld. Credits like the Child Tax Credit and Earned Income Credit can make it so you don't owe.

  • Sharpe516
    Sharpe516 Member Posts: 2 Newcomer
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    okay thank you! I did go an fill out my W4 form with my job. Also should i be filling out a new w4 at the beginning of every year with my job so that this does not continue to occur?

  • CarleneF
    CarleneF FreeTaxUSA Agent Posts: 27
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    You should update your W-4 whenever your situation changes, such as if you get married, have a child, or get a second job.

    You can use this tool from the IRS to help you determine how much you should have withheld: https://www.irs.gov/individuals/tax-withholding-estimator