posted Jan 25, 2012, 8:57 PM by Patty Langlois
If you are an employee claiming “exempt” on your 2011 W4, you need to file a new W4 with your employer by February 15th.
If you are an employer, you need to start withholding on February 16th paychecks for employees who claimed “exempt” on their 2011 W4s and have not filed a new W4 with you by February 15th.
As an employee, it is a good idea to review your W4 exemptions regularly throughout the year. Make it a point to review your exemptions claimed when you get a raise, receive a bonus, purchase or sell a residence, or make any other changes that will impact your taxes.