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This action is neither unethical nor illegal. An employee may claim fewer allowances than he or she is entitled to claim. Some people choose to have more taxes deducted because they do not want to owe taxes on April 15 of the next year. However, this practice is not encouraged unless one is extremely familiar with his or her tax position. Penalties may occur if an employee does not pay in enough taxes during the year.

BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570
BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570

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Chapter
Section
Chapter 7, Problem 3A
Textbook Problem

This action is neither unethical nor illegal. An employee may claim fewer allowances than he or she is entitled to claim. Some people choose to have more taxes deducted because they do not want to owe taxes on April 15 of the next year. However, this practice is not encouraged unless one is extremely familiar with his or her tax position. Penalties may occur if an employee does not pay in enough taxes during the year.

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