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re: Underpayment penalty on taxes......Paging Poodle...please see last post
Posted on 4/2/13 at 3:04 pm to TJG210
Posted on 4/2/13 at 3:04 pm to TJG210
quote:
Is this a mechanism in place to keep people from claiming 0, taking their entire paycheck up front, and then owing the entire tax bill on April 15?
By claiming 0 do you mean claiming zero dependents? If you do then you stated the opposite of what will happen. At 0 dependents they are going to take the maximum withholdings allowed out of your paycheck.
1
Posted on 4/2/13 at 3:41 pm to VABuckeye
quote:
By claiming 0 do you mean claiming zero dependents? If you do then you stated the opposite of what will happen. At 0 dependents they are going to take the maximum withholdings allowed out of your paycheck.
Isn't there some way for you to have no taxes taken out when you receive your paycheck? I'm not 100% sure about this, but I could swear I've heard people suggest that this was possible, and they wanted to do it to spite the government.
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