corwin@ut-ngp.UUCP (Corwin, Lord of Amber) (11/02/84)
<Do I need this line?>
Having been reading with interest the articles on "Things the IRS won't tell
you", I have a question:
Scenario- I file a return on Apr. 15, l986 for 1985 in which I owe no tax.
However, on Jan. 1, 1986 I took a job with an engineering firm at
a salary of $40K a year where I will probably owe taxes.
Question(s)- 1. Can I legally file an "exempt" W-4 at my new job?
2. Can I file a return on Apr. 15, 1987, pay my tax (if any)
for 1986 and still remain within legal bounds.
This boils down to: Can I legally get out of IRS withholding tax from me if
I agree to assess myself at the end of the tax year?