2007-01-30 07:52:22 · 4 answers · asked by AmyRoseHedge 1 in Business & Finance ➔ Taxes ➔ United States
Yes, anyone can adjust their withholdings. Students can claim "Exempt" if they don't earn very much.
2007-01-30 07:56:03 · answer #1 · answered by Nusha 5 · 0⤊ 1⤋
Do NOT claim exempt on your withholdings unless you have read the guidelines and you qualify as an exempt employee.
Very few people qualify for exempt status, and by doing so when you don't qualify leaves you open to a fine from the IRS.
To adjust the amount of withholdings, you adjust the amount of exemptions you claim.
2007-02-03 10:47:39 · answer #2 · answered by Simply_Lady_Blue 2 · 0⤊ 0⤋
Certainly. Anyone can adjust their withholdings at any time. Just file a new W4 with your employer. If you're being claimed as a dependent, Single with zero is the safest way to go most of the time.
2007-01-30 16:00:27 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 1⤋
It is up to you to tell your employer how much to withhold in taxes from your paycheck. However, you will be penalized if you do not have enough withheld.
2007-01-30 15:56:07 · answer #4 · answered by jseah114 6 · 1⤊ 1⤋