Claiming more dependents....
The names and ssn must be on the W2, but NOT on the W4. You can claim as many exemptions as you choose to in order to make your taxes come out closer so you don’t get a big refund at the end. For example, there are physicians who make big bucks, and own farms that lose money. They adjust the automatic deductions.
“The IRS is the only federal agency where an employee can be fired for not paying his taxes.”
Will this include Secretary of the Treasury Geithner?
Claiming more dependents....
The names and ssn must be on the W2, but NOT on the W4. You can claim as many exemptions as you choose to in order to make your taxes come out closer so you don’t get a big refund at the end. For example, there are physicians who make big bucks, and own farms that lose money. They adjust the automatic deductions.”
Clarification:
A W-4 is what an employee fills out when starting a job, changing addresses, or changing exemptions. It only has the employee’s name and address and Social Security number on it.
The W-2 is what an employer issues to the Social Security Admin- the state- and to the employee at the end of the year, summarizing the gross, fed tax withheld, Soc Sec withheld, Medicare withheld, state taxes withheld, and items like Kalifornia State Disability Insurance (SDI) withheld. The employee’s name and address and social Security number are on this document-—ONLY the employee’s number.
When a person files their form 1040, then the names and social security numbers of all the claimed exemptions are shown on the front page of the 1040, about 1/2 way down the page.
The W-4 and the W-2 NEVER contain the names and Social Security numbers of the children, etc.