Adjust witholding?

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  • Skate1968
    Senior Member
    • Nov 2006
    • 199

    #1

    Adjust witholding?

    I'll soon be doing a payroll for a little mom & pop corp -- 1 employee/owner, semi retired.

    Looking at it now i'm realizing that it would benefit me if doubled up his witholdings. Am i able to bump up witholdings whenever i feel like it? Is there a reg preventing me from doing this? (If so i'll just have him pay more in quarterly estimates.)

    thanks
  • DaveO
    Senior Member
    • Dec 2005
    • 1453

    #2
    An employee can adjust withholding at any time

    Just advise him of what you think he should do and have him complete a new W-4 to reflect the change.
    In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
    Alexis de Tocqueville

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