Can I claim 8 or 10 on my W4 and keep all taxes tell the end of the year?

Sure, but be prepared for a penalty for underpayment of tax, a $500 fraud penalty for claiming more withholding allowances than you are legally entitled to, and a Lock Letter from the IRS forcing your employer to withhold at a level set by the IRS, typically Single + 0 allowances.

Taxes are due as the income is earned, not on April 15th. Claiming more allowances than you are legally entitled to is illegal.

There is a little known loophole in the withholding law. If you have no taxes (except FICA) withheld through out the year and then have your entire pay withheld to make up at the end of the year, it is not only legal but there are no penalties. But you can't do that with estimated payments, only withholding.

Of course, it means no take home pay for a while until you get all your tax liability paid. So what's the point?

SURE, you CAN do this

However, you would be committing perjury and tax evasion and maybe tax fraud

READ the w-4 that you have to sign to claim this

The IRS expects you to have withholding at least 90% of last year's taxes owed, or you are eligible for penalties and interest and even prosecution

AND the IRS will direct your employer to withhold MORE in future, lots more

Yes they do have penalties that will be applied for failing to have enough or making enough quarterly estimated tax payments during the tax year to take care of your possible federal income tax liability after the end of the tax year and before the Middle of April due date of the next year for the full payment of all taxes that will be owed for the previous tax year by the April 15 Due date penalties and interest will be added to the past due amounts from each quarter of the tax year that the amounts were not paid in.

And would be happy when you employer would be required to report this to the IRS or when the IRS does notify your employer that they will be required to withhold from your gross wages earnings for the pay period as a single taxpayer with -0- ZERO allowances because you have not filled out your W-4 form correctly according to the rules.

Which would be illegal for you to claim more allowances that what you are legally supposed to be able to claim when you correctly fill out your W-4 and sign the statement and return it to your employer.

W-4 Personal Allowances Worksheet (Keep for your records.)

Employee's Withholding Allowance Certificate

Whether you are entitled to claim a certain number of allowances or exemption from withholding is subject to review by the IRS. Your employer may be required to send a copy of this form to the IRS.

Under penalties of perjury, I declare that I have examined this certificate and to the best of my knowledge and belief, it is true, correct, and complete.

Employee’s signature

(This form is not valid unless you sign it.)

Use the search box at the www.irs.gov website for W-4

http://www.irs.gov/pub/irs-pdf/fw4.pdf

Hope that you find the above enclosed information useful.

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As an Apostolic Christian I would talk to the pastor about the situation. Obviously the boy has been over-stimulated by someone in the church. In my church the rapture of the body of Christ is taught, however, it is the context that no one knows when it will occur but to just be prepared. The apostle Paul told the church of Rome, "8 But though we, or an angel from heaven, preach any other gospel unto you than that which we have preached unto you, let him be accursed. 9 As we said before, so say I now again, If any man preach any other gospel unto you than that ye have received, let him be accursed." Gal. 1:8, 9 If someone is encouraging these scare tactics with children they need to be reprimanded by the pastor personally. This definitely should not be allowed to continue. Not all fundamentalists would expose their children to this type of abuse. gatita_63109

if you claim too many exemptions and end up having to pay a big tax bill, it can result in penalties for underpayment

not a really good idea, if you claim just enough to cover your eventual tax liability, that is the best way

It's possible, but yes it's illegal. And yes there will be penalties if you end up owing $1000 or more at the end of the year.

I m single and I ve claimed 10 for the last 2 years. Thats 5400.00 per year not touched in my checks and I have an installment plan with the IRS of 150.00 per month. That s fine with me. Worked out great for me.

If you don't have the money now, how are you going to be able to come up with the money to pay a huge tax bill at the end of the year.

No, it's not legal.

Yes, there are penalties associated with doing this.