Filing Exempt on W4

[sutliffhl21]

What is the name of your state? Pa

If I file exempt on the W4, is that going to red flag me with the IRS? So, if I do that, and then file and send a check to cover the taxes at the end of the year, are they going to say anything if the Federal withholding box says 0.00? Any help would be appreciated.

P.S...if you have money saved up and would rather pay all of the taxes at the end of the year..is there a way to have your employer not take any federal taxes out of your check?

 

[Snipes5]

If you file exempt on your W-4, knowing that you will owe taxes at the end of the year, you are committing fraud.

If you don't want much in taxes taken out, just use a high number of exemptions.

Put that number too high, and again, you are committing fraud.

Snipes

 

[anteater]

If I file exempt on the W4, is that going to red flag me with the IRS?

Since your employer is required to forward W-4's with a claim of "Exempt" to the IRS, it sure will.

Remember that little preprinted part on the W-4 where you sign? The part that starts with "Under penalties of perjury......."