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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