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Article #863Re: Increasing deductions because of a m
From: rws
Date: Wed, 05 Mar 1986 14:20
Date: Wed, 05 Mar 1986 14:20
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1277 bytes
My payroll department says that the IRS will ask you for justification when payroll tells them you have more than 14 deductions. IRS can then choose to believe you or not. Auditing has nothing to do with who owes who money at the end of the year. There ARE substantial penalties for not witholding at least 80% of what you owe. Be sure to get a copy of form 2210 and related instructions. That form allows you to explain why you were not required to withold 80%. In general, send documentation of all unusual items on your 1040. The IRS agents are instructed not to bother auditing for a single questionable item, since it is unlikely to produce enough payoff to bother with.
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Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: Notesfiles; site gypsy.UUCP Path: arc1-ca.pugleaf.net!utzoo!watmath!clyde!burl!ulysses!allegra!princeton!siemens!gypsy!rws From: rws@gypsy.UUCP Newsgroups: net.taxes Subject: Re: Increasing deductions because of a m Message-ID: <36300011@gypsy.UUCP> Date: Wed, 5-Mar-86 09:20:00 EST Article-I.D.: gypsy.36300011 Posted: Wed Mar 5 09:20:00 1986 Date-Received: Sat, 8-Mar-86 18:32:01 EST References: <104@spp5.UUCP> Lines: 13 Nf-ID: #R:spp5:-10400:gypsy:36300011:000:683 Nf-From: gypsy!rws Mar 5 09:20:00 1986