Is it okay to claim fewer W-4 exemptions than I'm entitled to?
February 18, 2004
Subject: tax question
From: Nelson
Date: Wed, 14 Jan 2004
Michael Gray or to whom it may concern:
I'm currently completing my W-4 and I have 5 allowances. However, my wife and I prefer to have less allowances to avoid paying backtaxes in April (and of course to have money back). Can I reduce the number (say 2) even though the calculation gives me a 5? Thanks a lot for your time.
Nelson
PS: I got your email because I read a document online with basically the same type of question.
Answer
Date: Mon, 02 Feb 2004
Hello Nelson,
Yes.
Good luck!
Mike Gray
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