Actually, there is a way to get the tax withholding set to 0. You have to pay when it comes to tax time though. You can alter your witholdings also so that your take home pay is more, but your tax return would be less. If you’re really interested, I’d talk to an accountant ar a tax professional though. Also, just to make sure I’m not misunderstood, you still have to pay taxes to the govt, it’s just a lump sum instead of being taken out every month.
I don’t know for sure that this applies federally, but in my municipality you have to make estimated payments throughout the year if you don’t have them deducted from your pay. My employer made a mistake and didn’t withhold local taxes, and when I paid in a lump sum a fine was assessed.
Actually, there is a way to get the tax withholding set to 0. You have to pay when it comes to tax time though. You can alter your witholdings also so that your take home pay is more, but your tax return would be less. If you’re really interested, I’d talk to an accountant ar a tax professional though. Also, just to make sure I’m not misunderstood, you still have to pay taxes to the govt, it’s just a lump sum instead of being taken out every month.
I don’t know for sure that this applies federally, but in my municipality you have to make estimated payments throughout the year if you don’t have them deducted from your pay. My employer made a mistake and didn’t withhold local taxes, and when I paid in a lump sum a fine was assessed.
Thats how dumb sov cits are. They don’t get that you can just claim 12 dependents…sure it’s fraud, but they don’t think laws are real so 🤷♂️