Wayne Brasch <waynebrasch[at]stowetel.com> wrote:
- quote -

More than 10

- quote -

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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Wayne Brasch wrote:
- quote -

More than 10, not 10 or more. Some employers send copies of
ALL W-4s to the IRS, but the IRS usually ignores those that
weren't required.

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"Yuri Weinstein \(HotMail\)" <yuriw_NOSPAM[at]hotmail.com> wrote:

- quote -

Well, if you __are__ lying, yes, you might be liable
for it. If you read Form W-4 carefully, you will see
that your signature is under penalty of perjury.

But that answer is really misleading.

First, you are not limited to the W-4 worksheets to
compute your withholding allowances. The number that
you put into line 5 does __not__ have to come from the
those worksheets, contrary to W-4 instructions. Refer
to IRS Pub 505 ("Alternative method of figuring withholding
allowances").

So as long as you declare 10 or fewer allowances, __and__
as long as you do not owe "significant" additional taxes
when you file your tax return, the IRS will not know or
care that you declared an arbitrary number of allowances
on your W-4.

If you declare more than 10 allowances, your employer
__must__ send your W-4 to the IRS, which will do its own
computation. If you cannot convince the IRS that your
number is justifiable, they will send a Letter of
Determination to your employer, restricting the number
of allowances now and for the future until the IRS tells
your employer differently.

I have never heard of the IRS prosecuting for perjury
in such cases. They certainly did not prosecute me.

However, IRS Pub 505 does warn of a $500 penalty for
unjustifiable W-4 declarations that reduce the amount
of tax withheld. Under some conditions, the penalty
can be up to $1000 and 1 year in prison. But "an honest
mistake will not result in one of these penalties".

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"Yuri Weinstein (HotMail)" <yuriw_NOSPAM[at]hotmail.com> wrote:

- quote -

I don't know if you are "laying" or "lying", but the fact is
that if you claim 10 or more your employer is required by
tax law to send a copy of that Form W-4 into IRS. They may
write (or otherwise contact) you and ask that you prove to
them that you are entitled to claim that many. If you can't
prove it, they will demand that your employer withhold from
your pay as if you are single with zero allowances. That
means the employer will withhold the most that can be taken
out based on your pay scale.

Wayne Brasch, CPA, M. S. Taxation

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"Yuri Weinstein \(HotMail\)" <yuriw_NOSPAM[at]hotmail.com> writes:

- quote -

Since you're asking, I have to assume that the 10-13 number
is a SWAG and, thus, you'd by lying. While the IRS doesn't
care who or what you're laying, lying on a W-4 is subject to
a penalty.

Phil Marti
Topeka, KS

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Hello,

I am just wondering if I write like 10-13 number of
allowances in W-4 is it OK or I am laying and might be
liable for it?

Thanks in advance

YuriW

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