Using the IRS withholding calculator, my income tax liability is covered for the rest of the year and I am set to receive a refund, even if I paid no more taxes. How do I adjust my W4 to not take out taxes for the rest of the year?
How do you reduce federal income tax witholdings to $0?
byu/WizardofFinance23 intax
Posted by WizardofFinance23
4 Comments
Enter a sufficiently large number on Form W-4, line 3. Remember to un-do this in January.
How much do you make a pay period, and how often are you paid? That info is needed to answer the question.
Below section 4(c), write the word Exempt
Claim “exempt” as in “I am exempt from paying taxes”