W-4 Allowance

[BOB W]

Point........

Quote: "There is always a chance that one spouse will take the other back to court and I'd feel more comfortable to have documentation for what I suggested".


............is well taken, but there is no requirement to calculate a refund. It is a personal choice up to owing $1,000.

[Jesse]

Facts and Circumstances

I would still want a guide such as the Form W-4 or some type of worksheet to back up the number of allowances I suggest. If you have a single person with one job, no dependents and has not itemized for the last 5 years fill out a Form W-4 he'll probably come up with 2 allowances. No matter what the reason for wanting to change, ethically can you tell him to increase his allowances by some arbitrary amount?

Certainly every situation is different and there are many variables in filling out a W-4, but, especially if I was told that it has to do with any type of debt interception, I want to be extra cautious. There is always a chance that one spouse will take the other back to court and I'd feel more comfortable to have documentation for what I suggested..

[S T]

W-4 Calculations

I really am not "plugging" CFS Software, but they have a great W-4 calculator that you can buy on CD each year. Does the what if and taxplanning to adjust withholdings. Will also calculate the difference in payroll net check with the new withholdings.

After using this software for many years, I have found it to be fairly accurate. Will also print out the Federal W-4, my version is for Calif, so I can also print out the State version DE-4.

Sandy

[BOB W]

W-4 calculations

First let me say, when I represent a client I do what the client wants to accomplish. In this thread it has to do with his x-wife and probably child support. If, the client came to me and just said "I want to reduce my refund so I take home more", I would do it. It is not my job to place a moral value on his decission. If I was told that it has to do with child support, and it has in the past, I remind him that it will help reduce his liability if he makes no changes. From there it is his call.

Second, there is no correct or incorrect way to complete a W-4 form. If one follows page one and two of the W-4 they will owe megabucks when they do their return, especially if H & W have wages. The most correct way is to break out even or owe less than $1,000.

[Jesse]

I have to agree w/ taxmandan.
Go to the w/holding calculator http://www.irs.gov/individuals/artic...=96196,00.html
I would not suggest anymore than the IRS allows because I'm sure the reason the exwife is receiving the refund to begin with is because of an interception for back pay of some sort, most likely child support.

[taxmandan]

W-4

Tell him to pay his child support as required and on time and he won't have that problem. Sorry, I'm not very sympathetic to his plight. The IRS does want everyone to complete their W-4 to minimize refunds anyway, so help him figure the correct withholding to reduce any refund.

[BOB W]

Something.........

......... isn't right.......for sure. I believe the original poster is talking about splitting refund with wife as if both are intitled to half. If husband ups his exemption (lowers his withholding) he will get more in his paycheck weekly. As a rule of thumb, I divide last year refund by $500 and use that for the additional exemptions on a new W-4. This will bring their refund to approx. $0. Claiming less exemption will provide a small refund.

If the wife also does this they will own when they file their tax return.

This is just a rule of thumb, but it works.

Women are notorious for having no withholding on their W-2's, especially when relations are strained with spouse.

I just reread (X-WIFE), let him owe a small amount on his tax return and all his problems go away.

[Armando Beaujolais]

Something isn't right here.

[JG EA]

Kids

It's probably his kids not his wife - the bum. But, what I tell clients is to just honestly fill in the applicable 1's on the W-4 worksheet, and claim that many exemptions.

Had An Individual Call And Ask About Upping His Exemptions On His
W-4 So X -wife Won't Recieve So Much Of His Refund.
What Are Some Suggestions In This Area???

Thanks