I'm curious - has anyone here ever been asked by IRS to justify their exemptions? I have a lot of deductions (mainly a huge mortgage interest writeoff plus a kid), and Turbotax told me to claim 14 exemptions to avoid another whopping overpayment. Will the IRS look at how much I withheld this year (way too much) and say, ok, that makes sense, or will the IRS ask me to send them the calculations? (Payroll dept already said they would have to forward my W-4 to IRS cause it was over 10). Will the lower withholding go into effect in the meantime or does my employer need the OK of the IRS? How often does IRS actually check?
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra