"herlihyboy" <ryan.parmenter[at]gmail.com> wrote in message
news:1112966486.124001.4780[at]o13g2000cwo.googlegroups.com...
- quote -

You don't mention what your income level is, but if the majority of your
refund is due to tax credits (child tax credit x3, supplemental tax credit
based on social security, personal investment tax credit), then there's not
much that the W4 can do to change what's already withheld so that you'd have
the money during the year versus getting the large tax refund. If, however,
you have at least $50 withheld from every paycheck (assuming biweekly pay
periods), then adding one or two additional to your exemptions can make a
difference. Don't know if it puts up red flags but we've been claiming 9 or
10 with 3 kids, mortgage, charitable deductions, etc for several years and
haven't had a problem so far.

Leigh

I am currently up to 9 withholdings on my federal W-4 and still got a
refund of about $1,500 back this year. We are able to itemize due to
mortgage interest and charitable giving, plus we have three children,
so our total tax ends up being pretty small.

I had heard that if I take more withholdings it might send up red flags
and I'd be a more likely candidate for an IRS audit. I'd much rather
have the income in my paycheck and not get a refund. Any suggestions
on what to do? Would you recommend against bumping my withholdings up
to 10 or 11?

Thanks in advance,

Ryan