In article <g98651$mb7$1[at]snarked.org> ,
D. Stussy <replies[at]newsgroups.kd6lvw.ampr.org> wrote:
- quote -


That's correct.
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ArtKamlet at a o l dot c o m Columbus OH K2PZH

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Arthur Kamlet" <kamlet[at]panix.com> wrote in message
news:g9734h$22o$1[at]reader1.panix.com...
- quote -

So, 10 and over isn't reportable anymore?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Arthur Kamlet" <kamlet[at]panix.com> wrote in message
news:g9734h$22o$1[at]reader1.panix.com...
- quote -

So, 10 and over isn't reportable anymore?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <bbc10e29-b873-460f-86de-802895bc4f21[at]m36g2000hse.googlegroups.com> ,
Indiana_John <bigpufan[at]aol.com> wrote:
- quote -

If you can document, if asked, that 20 is now the correct number
of W-4 exemptions needed to bring your wihholding in line
with your tax liability, then you may submit such a W-4.

The employer is no longer required to immediately notify the IRS
of this W-4, though the IRS will find out shortly.

If the IRS believes it is too much, they could ask you for some
proof, of they can first tell the employer to change the exemptions
to Single Zero, and then ask for you to prove it :-(

So there is a certain risk, which should eventually work itself out.
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ArtKamlet at a o l dot c o m Columbus OH K2PZH

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Thanks in advance for any replies.

I have a question about my w-4 allowances and paycheck deductions.
Last year had ten allowances and even though I had a lot taken out for
my year-end bonus, my itemized deductions (mortgage interest,
charitable, etc) allowed me to get a 2500 dollar refund. This year my
pay will be approximately the same (same monthly, same bonus). I
decided to increase my allowances to 16 to get more money now instead
of from a refund. The increase in allowances decreased my federal
withdrawl about 40%. Since I didn't do this until August, I still
expect about 1500 in a refund. My question is: Is there any issue to
raising my allowances to 20, which brings my federal withdrawal for my
regular paychecks the rest of this year to close to 0? Will the IRS
care? Will it flag anything if nothing is being taken out for
federal? (Technically I haven't received my bonus yet, but there's a
99.9% chance that I will in December) Hopefully I explained this
well enough to understand..

Thanks again.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >