Despite the president’s false claims, Americans actually pay U.S. tariffs — meaning his “liberation day” announcement is about liberating Americans from their money
FYI as someone who has filled out that form many times as “exempt” I can say no one has ever asked any questions about it. If they did, I’d probably tell them it’s none of their business- I’m the one committing the crime if what I’m signing isn’t true, and at no point in submitting it are you asked to prove youre exempt (until you file your 1040 the next year, if you file one)
But it’s also pretty hard to argue later you must have just “done the math wrong” ’cause there’s a whole separate section for declaring youre exempt.
They also still take out social security and medicare.
I’m not in the US but I thought about that once, I would be better off not paying taxes on my paycheque, putting what I’m supposed to owe in a savings account and keeping the interest when paying all my taxes at once…
A good number of jobs automatically deduct taxes from your paycheck, which makes this difficult.
Also, I don’t think HR/Payroll would easily agree to any requests by personnel to stop the deductions. They will ask questions.
They definitely are controlled by the employee. You tell your employer your number of dependants, and that adjusts how much is taken out.
FYI as someone who has filled out that form many times as “exempt” I can say no one has ever asked any questions about it. If they did, I’d probably tell them it’s none of their business- I’m the one committing the crime if what I’m signing isn’t true, and at no point in submitting it are you asked to prove youre exempt (until you file your 1040 the next year, if you file one)
But it’s also pretty hard to argue later you must have just “done the math wrong” ’cause there’s a whole separate section for declaring youre exempt.
They also still take out social security and medicare.
I’m not in the US but I thought about that once, I would be better off not paying taxes on my paycheque, putting what I’m supposed to owe in a savings account and keeping the interest when paying all my taxes at once…
Fun fact. If you are self employed, you are expected to predict your annual tax and pay it quarterly. Get it wrong, and you pay penalties.
Same in Canada if you’ve got too much capital gains one year, you’re asked to pay in advance the following year but it’s not an obligation.
Then you would owe the IRS interest on the money in the form of a special penalty surcharge on your taxes owed.