Teacher:Given a passage and a query based on the passage, generate an unambiguous, concise and simple answer to the query from information in the passage. Note that the answer may not be present in exact form.
Teacher: Now, understand the problem? Solve this instance: Marital status for the tax year. Number of dependents claimed on your return during the tax year. Info about child care expenses paid during the year. Amount of wages earned during the year and amounts withheld (including frequency of pay best to have a recent pay stub handy) Claiming two allowances will get you close to your tax liability but may result in tax due when filing your taxes. You're single and work more than one job. Claim one allowance at each job or two allowances at one job and zero at the other. You're married. Claiming three allowances You are married with one child. Claiming additional allowances . File as head of household if you are eligible. You are able to claim additional allowances. You had at least $2,000 of child or dependent care expenses that you plan on claiming credit. You're eligible to claim the Child Tax Credit. Most importantly, the number of allowances you claim on a W-4 determines the following; 1 how much tax will be taken from your income (aka the withholding amount) 2 the size of your tax refund. If any of the following happens to you, consider an update: 1 You receive a large refund and expect the same for the next tax year; 2 You owe a significant amount to IRS and expect the same for the next tax year; 3 You get married or divorced; 4 You have a baby, adopt a child or lose a child; 5 Your child or children go away to college or move away from home; Claiming two allowances. 1 You are single. Claiming two allowances will get you close to your tax liability but may result in tax due when filing your taxes. 2 You're single and work more than one job. Claim one allowance at each job or two allowances at one job and zero at the other. 3 You're married. The allowances you claim while filling out a W-4 if you are single will differ from the allowances you claim if you are married or have kids. Claiming zero allowances The maximum amount of tax is withheld. Your form W-2 reports withholding (as well as wages and benefits) for the tax year. The amount withheld is calculated using information which you provide on a form W-4 (downloads as a pdf). The point of the form W-4 is to figure out how many allowances to claim for purposes of your federal income tax withholding. The general rule is that the more allowances you claim, the less withholding you'll have taken out of your paycheck. If you claim zero, you'll have the maximum amount taken out. Claiming three allowances You are married with one child. Claiming additional allowances . File as head of household if you are eligible. You are able to claim additional allowances. You had at least $2,000 of child or dependent care expenses that you plan on claiming credit; You're eligible to claim the Child Tax Credit; Can I fill out a new W-4 form? Claiming additional allowances. 1 File as head of household if you are eligible. You are able to claim additional allowances. 2 You had at least $2,000 of child or dependent care expenses that you plan on claiming credit. 3 You're eligible to claim the Child Tax Credit. You'll need to have the following info handy: 1 Marital status for the tax year. 2 Number of dependents claimed on your return during the tax year. 3 Info about child care expenses paid during the year. 4 Amount of wages earned during the year and amounts withheld (including frequency of pay best to have a recent pay stub handy) Query: how many allowances do i claim on taxes married with one child
Student:
Claiming three allowances You are married with one child.