Maximum Allowances on the W-4

[laurannm]

Anyone know if there is a maximum on how many allowances you can claim on your W-4? Some postings say 10, but others sites I have read say that is no longer the case. If I use the withholding calculator on irs.gov, it says I am allowed 15 allowances, given how much I have had withheld so far this year (we do typically get a large refund).

Thanks!

[vegas911]

I don't worry to much about the # of allowances. I just add $xx dollars to withholding and adjust as necessary.

So if you had a $2500.00 dollar tax bill last year and want to increase tax withheld, just add $30-40/week to be deducted. Look for IRS circular E it has tables for single, married, etc. to determine how much $'s will be withheld.

Don't do to much or you will owe...

http://www.irs.gov/pub/irs-pdf/p15.pdf

[laurannm]

Thanks

HR Dept just told me that anything over 14 has to be reported to the IRS.

[magyar123]

Thanks

HR Dept just told me that anything over 14 has to be reported to the IRS.

It's actually 10 or over

[laurannm]

It's actually 10 or over

Do you know where that is stated on the IRS web site? I am find all sorts of conflicting info

[momof5]

Dont do to many withholdings so you end up having to pay!

After receiving large refunds that would be a hard thing to do.

[Cali]

Here is a link to the calculator: http://www.irs.gov/individuals/page/0,,id=14806,00.html

We have been playing with our w/holdings to try to get it even. This year our refund was 285$. Last year we had a 5k refund and the year before that we had a 4.8k refund.

[holding on]

I haven't come across a written "the max number of allowances is X" anywhere, so I don't believe there is a hard limit. I was told that at 10 and above is when my company has to notify the IRS. That's when the IRS starts worrying they won't get paid. The calculator is just to tell you what allowance you should put in so that you have 0 tax due.

[HRx]

Here is a link to the calculator: http://www.irs.gov/individuals/page/0,,id=14806,00.html

We have been playing with our w/holdings to try to get it even. This year our refund was 285$. Last year we had a 5k refund and the year before that we had a 4.8k refund.

It's nice that BAH, and BAS military isn't taxed...keeps the tax liability down quite significantly. Especialy for enlisted members of the armed forces.