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I claim exemption from withholding because…?

April 26, 2017Business claim Finance taxes United withholding

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I claim exemption from withholding because…?

2 Answers

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If you are going to make $5450 or have investment income of over $850, you CANNOT file exempt. You will then owe tax at the end of the year. The best thing to do is file Single and one or two, that way you may or may not have withholding depending on your gross wage, but you are not breaking the law either.

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Exempt means you won’t owe taxes if you were to fill out a tax return, so why bother taking taxes out to start with. If you owe tax, you aren’t exempt. Wages are not exempt. As for permanent home, I don’t know your area.