troubleshooting Question

what is the significance of Number of Allowances on a W-4 Employee's Withholding Allowance Certificate?

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GMartinFlag for United States of America asked on
Miscellaneous
6 Comments2 Solutions149 ViewsLast Modified:
Hello and Good Afternoon Everyone,

          I am wondering what is the significance of Number of Allowances on a W-4 Employee's Withholding Allowance Certificate.   My value for this category is 1.  When I compare my return to what others with the Number of Allowances set at 0, their returns are almost twice of what I normally get each year.  That said, are there any hidden short-term or long-term benefits of leaving the Number of Allowances set at 1 or should I consider going to Human Resources and having it changed to 0 in order to claim a  higher refund next  year?

           Any shared thoughts to this question will be greatly appreciated.

           Thank you

            George
ASKER CERTIFIED SOLUTION
nickg5

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