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Thread: Filing exempt

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    Default Filing exempt

    Not related to stripping but if you file exempt on your tax form for a new job do they not take ANYTHING out like you get your full entire check without anything withheld? Just a curious question just because I dont know how that section works. I always claim 2....

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    Default Re: Filing exempt

    An employee filing 'exempt' on their W4 basically puts them in the same situation as every 'independent contractor' dancer and camgirl. Without estimated tax withholding from paychecks being performed by an employer, they are personally responsible for filing estimated tax vouchers and sending estimated tax payment checks to the IRS themselves every three months. Failure to do so can result in interest charges at best, as well as IRS cash penalty charges for deliberate 'under-withholding' at worst.

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