Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Thanks to you both for your help.

I just quickly went the turbo tax route and as a result have another question.

Turbo tax is suggesting
WIFE: Married - 3 Personal Allowances - 0 extra withheld
ME: Single - 5 Personal Allowances - 0 extra withheld

We have only one child and are both under 65 etc. So we only have 3 exemptions on our actual taxes. Can we legally claim 5 on my W-4??????

Second question: If in Dec we add up all of our withholdings and find out that it is less that the actual tax owed for 2007 can we send an extra payment to the IRS to make up the difference and ensure that we will not have a penalty????
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.