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Be careful!

If you go exempt, your employer will not withhold the taxes for the IRS and the State.

Although you will get more "net income", chances are you will owe taxes by April 15th. If you do not have the funds to pay the hefty tax bill, you will have a tax problem and the IRS will start collection action against you such as wage garnishment [wage levy], they will levy your bank account and you will pay excessive penalties and interest.

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16y ago

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