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From: res@ihlpl.UUCP (Rich Strebendt @ AT&T Information Systems - Indian Hill West; formerly)
Newsgroups: net.taxes
Subject: Re: withholding question
Message-ID: <308@ihlpl.UUCP>
Date: Mon, 26-Aug-85 23:03:11 EDT
Article-I.D.: ihlpl.308
Posted: Mon Aug 26 23:03:11 1985
Date-Received: Wed, 28-Aug-85 21:26:04 EDT
References: <827@burl.UUCP>
Distribution: net
Organization: AT&T Bell Laboratories
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> I am getting married late this year, and my fiancee' has made almost
> nothing so far this year -- her income will probably be about equal
> to mine for the last 4 months of this year.  Is there any legal (quasi-legal)
> (pseudo-legal) (downright illegal) way to adjust my withholding for
> the rest of the year so I get to use the money now instead of IRS sending
> me a huge refund check in '86?

In your case I believe that there is a very simple rule that can be
applied:

	You will have no cause for the assessment of penalties by
	the IRS if your witholding for 1985 would have been adequate to
	cover your tax liability for 1984.

Hence, if her income was modest in 1984 and your joint withholding for
1985 would have covered your taxes and hers for the previous year, then
the IRS will not claim that you have under withheld.

My wife and I have been following this rule on the advice of our
accountant for several years and have not been called on it by the IRS.

					Rich Strebendt
					...!ihnp4!iwsl6!res