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To: Ghost of SVR4

Claim 9 exemptions...above that your employer must report it...so
I’ve been told


25 posted on 11/02/2013 11:38:36 AM PDT by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods.)
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To: Ghost of SVR4; goodnesswins

It used to be true that if you claimed 10 or more exemptions or claimed “Exempt” on the W-4, employers had to send a copy to the IRS. That is no longer the case. It is I think still the case in some states that have their own withholding certificate.

I would caution however against claiming more withholding exemptions than you are entitled to claim or justify and ending up at the end of the year, well under withheld. That can result in penalties and an IRS Lock In Letter in which they will tell your employer how many exemptions you can claim, overriding any W-4.

http://www.bankrate.com/finance/taxes/understanding-underwithholding.aspx

Again the idea is to not be over withheld and get a big refund (an interest free loan from you to the government) or to be under withheld and ending up owing a lot or even worse, more than you can afford to pay on April 15th.


36 posted on 11/02/2013 12:28:02 PM PDT by MD Expat in PA
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