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I am going on a (pleasure) holiday to America again some time soon and was wondering whether I have to pay tax on things i purchase there (i.e. DVDs).
i recall an American woman buying a t.... |
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| We recently got a letter that they where garnishing 25% of my husbands checks and we were wondering since they are already taking money from his checks can they take money from our tax return also? <... |
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 Hello can you help me add tax to my avon products? |
| hello i sell avon and i need to add tax to the total amount of the products... our tax here is 8.25%... |
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| will HR block or any other tax preparer already have on file that I owe this amount of money, I just got the notice in the mail and I would rather just make a payment arraignment to pay off what I ... |
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| We live in michigan, but Im wondering about the federal portion of our taxes. Is it legal for one, and second would it be better (meaning getting more money back) for us to each claim one of the ... |
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dropkickchester | A co-worker told me about tax exemption. it's an option on your paycheck and you don't pay taxes for a month.? |
He did it and it shows in his pay stub that he has 99 expenditures. He says there's no down side, but to me it's sounds too good to be true. Is the IRS getting that money back somehow. I would like to try it because this month i get my vacation pay and they take about 500 bucks in taxes from it but i would like to be informed about this. Help anybody? |
 |
 
wartz
|
It is called committing fraud and is not a legal option. |
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v b
|
Fortunately, irregular payments (bonus, vacation pay) do NOT use the W-4 allowances.
Your co-worker went and LIED on his W-4.
When your coworker overdoes it and owes when he files his tax return, he may suddenly find that the IRS noticed he was playing games and that they sent a LOCK-IN letter to the employer saying that from now on he is single-0 and can't change it without IRS approval. |
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bud68
|
All that does is temporarily lower your withholding. You still end up owing the same amount of tax. |
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Judy1
 |
There's two downsides:
1. It's illegal to file a W-4 as exempt if you aren't - you can be fined for doing that if they catch you
2. The extra money that he gets now in his paycheck will come out of his refund, or if his refund isn't enough to cover it, he'd have to pay when he files his taxes. |
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Steve D
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First, if you could claim it, in the end, all you are doing is reducing your tax rebate or increasing the amount you pay the IRS (there is no free lunch). Second, you woul dbe falsifying a W-4 for which there are penalties...here's a quote on this subject:
"You can claim the number of withholding allowances that you are entitled to, based on the Form W-4, Employee's Withholding Allowance Certificate, worksheets. You can claim less than you're entitled, but not more. You may not arbitrarily pick a number with the goal of avoiding income tax withholding. The law provides for a civil penalty of $500 for filing a false statement on Form W-4.
If at the time the Form W-4 is submitted, the employee has made any statement indicating that the W-4 is false in any way, it's invalid. The employer would then be required to treat the submitted form as invalid and withhold as if the employee were single claiming no allowances.
Employers are required to submit any Forms W-4 with more than 10 claimed allowances to the service center's Form W-4 coordinator. The W-4 coordinator will review the employee's most recent tax returns and make a determination as to whether to notify the employer to withhold based on a lesser number of allowances. " |
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Bart M
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Don't mess with tax withholding in hopes of some secret gain. It's no secret, see other answer. |
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stephy
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You can change your exemptions at anytime. But it will not change anything but the federal withholdings.
And if you truly do not have those exemptions you will owe come tax time.
You are also allowed to have them take out more money if you want. |
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Beau.Gus
 |
Your co-worker is an idiot and a criminal....he's an idiot because he is stupid, but he is a criminal because if he is smart enough to hold down a job, then he is smart enough to know that what he told you makes no sense at all! He's just trying to get you in trouble....unless he's just a bigger idiot than I can imagine! |
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