this post was submitted on 09 Aug 2024
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I’m not sure about exemption, but I know you can put as many dependents as you’d like on your W-4, reducing the amount withheld. Just like you said, this affects withholding only and has no bearing on the taxes you’ll owe in April.
It’s a good idea to adjust your withholdings so you break even in April. Big refunds seem nice until you realize you gave the government an interest free loan with money you could’ve put to work for you.
Right up front here - I am not suggesting that sovcits are in any way correct in their weird opinions on how anything works.
But --
You can have your employer not withhold taxes; your taxes are your responsibility. But many employer payroll departments will balk at that and tell you "they can't do that," probably because it's such an unusual thing for people to want to do that they don't want to deal with the hassle of it.
Of course, doing so is likely to raise a flag with the IRS. Pay your taxes.
No, you’re missing the part where you get to play by a different set of rules. /s