[I know this is a minority opinion, but this is really not a good idea. I know all the reasons why it is a good idea, but its still not a good idea. Most people are not responsible and will end up owing a lot of money to the government and won’t be able to pay it when due. It will create a crisis for them. The interest that they earn on the withheld funds isn’t worth that risk.]
This is how some showbiz figures get into trouble. They spend every dollar earned, borrow based on peak earnings, forget to pay Uncle Sam, end up in prison. Wesley Snipes is the poster child for this.
Two words....Two words in the English language....”I Forgot!”
If you are responsible, is it good to do then? (Reduce withholding)