| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 133.1 | | MR4DEC::GREEN | | Sun Mar 29 1992 22:13 | 6 |
|
no, you must be up-to-date on a quarterly basis. Employers must
make your tax payments ever quarter. If you claim enough on the
W-4 to have no taxes withheld, you would still have to make quarterly
payments to the IRS or face underpayment penalties; Form 2210 explains
|
| 133.2 | Loophole | AKOCOA::GLANTZ | | Mon Mar 30 1992 13:47 | 8 |
| It is my understanding that withholding tax is treated as if it were
withheld uniformly over the year.
So you could underwithhold, then file a massive change to take effect
the last week of the year, then change back.
Given the time it takes for internal mail, sign-off's etc., don't wait
till the last week of the year if you pursue this strategy.
|
| 133.3 | | NOTIME::SACKS | Gerald Sacks ZKO2-3/N30 DTN:381-2085 | Mon Mar 30 1992 14:33 | 1 |
| See note 65.
|
| 133.4 | Re: .4 and signoff times | STAR::PARKE | True Engineers Combat Obfuscation | Mon Mar 30 1992 17:20 | 8 |
| WHen I delt with the "Bush" adjustment, it showed up in my following Thursday's
check (i.e. 2 week turn around).
Basiclly, going straight to your PSA, they can modify the records directly and
it will take effect on the check for the week you do the modification in). (Do it
before Wednsday and the Week from Thursday check will show the change).
Bill
|
| 133.5 | Don't overdo it | STOKES::NEVIN | | Thu Apr 16 1992 13:25 | 7 |
| Don't forget that significantly overclaiming exemptions on the W-4 can
land you in jail. While it would make sense to put in enough
exemptions so that you owe something at the end of the year, if you
overdo it (particularly to the point of paying all of your taxes in one
week), my guess is that you'll raise a few eyebrows at the IRS.
Bob
|