Tax Trails - Can You Claim Exemption from Withholding on Form W-4?

You can claim exemption from withholding.

To claim exemption, you must give your employer a Form W-4. Complete only lines 1, 2, 3, 4, and 7 and sign to validate the form. An exemption is good for only one year. You must give your employer a new Form W-4 by February 15 each year to continue your exemption.

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