Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

How many allowances must I claim on my W-4...

In order to have NO tax withheld? I want to change my W-4 for a couple months to save money quickly my W-4 for a couple months to save money quickly and so I get a smaller refund.

Answer Question
 
kasaloso

Asked by kasaloso at 1:32 PM on May. 3, 2011 in Money & Work

Level 6 (152 Credits)
Answers (9)
  • Depends on how many kids you have, are you married, etc. As your work but I knew a girl who claimed 12 to pay no taxes for a while.
    emmyandlisa

    Answer by emmyandlisa at 1:40 PM on May. 3, 2011

  • Go here and plug in your numbers. It will tell you exactly what to do.
    http://www.irs.gov/individuals/article/0,,id=96196,00.html
    Candi1024

    Answer by Candi1024 at 1:44 PM on May. 3, 2011

  • You can claim as many as you want on a W4-I did it once when I was really short on money and buying my house. As long as you pay the correct amount of taxes when you file-but if you don't have enough withheld (or any) then if you owe beyond a certain amount you may have to pay a penalty. I agree with the previous post-check it our on the IRS website.
    confused969

    Answer by confused969 at 1:57 PM on May. 3, 2011

  • If you claim more than 9 your employer HAS to notify the IRS and the IRS will request social security numbers to back up that exemption status.
    Kristen1010

    Answer by Kristen1010 at 1:58 PM on May. 3, 2011

  • Kristen, that is no longer in effect.
    http://www.irs.gov/faqs/faq/0,,id=199643,00.html
    Candi1024

    Answer by Candi1024 at 2:04 PM on May. 3, 2011

  • Candi, your links are not working. Any chance you could c&p?
    kasaloso

    Comment by kasaloso (original poster) at 2:29 PM on May. 3, 2011

  • I did C&P, hmmm.
    The first one is the withholding calculator on the irs site. If you google IRS withholding calculator you will find it.

    The second is just a reference from the irs site stating that they no longer require companies to report claiming over 9. Not really that important to see.
    Candi1024

    Answer by Candi1024 at 3:55 PM on May. 3, 2011

  • I have claimed 99 deductions in the past to have close to nothing for federal tax withheld.
    Kari126

    Answer by Kari126 at 7:43 PM on May. 3, 2011

  • Thanks everyone. :)

    Kari...do you mean 9?;)
    kasaloso

    Comment by kasaloso (original poster) at 10:51 PM on May. 3, 2011

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.