Can i claim 10 dependents/ exemptions on my w-4 form if i'm only working for the summer?

Question

i will have an internship for 9 weeks this summer and my wage is 14/hr. i was told that i could claim 10 dependents with no future problem and therefore have less tax withheld from my bi-weekly paycheck and not owe money at the end of this year... is this true? im 19 btw and im a student

Answer 1

If that's your only income for the year, yes you can since you won't owe any federal income tax.

Answer 2

Dependents are:

- Qualifying Child

- Qualifying Relative

At 19, you have 10 kids? :o)

A dependent must be your son, daughter, stepchild, foster child, or a descendant (for example, your grandchild). It can also be your brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant (for example, your niece or nephew) -- that you support and must have lived with you for more than half a year.

Here's the IRS rules on claiming dependents-- it is quite long and not as easy as what you have been told http://www.irs.gov/publications/p501/ar0...

Answer 3

You can claim as many as you want......just expect to pay more in taxes when you file for 2008.

Answer 4

You can claim exemption from withholding if you are not dependent and, if

*Last year you had a right to a refund of all federal income tax withheld because you had no tax liability and

*This year you expect a refund of all federal income tax withheld because you expect to have no tax liability.

Claiming exempt on your W4 does not mean that you are exempt from federal tax or state tax if you have taxable income. It only means that employer will not withhold any income taxes from your paycheck.

Read this: http://taxipay.blogspot.com/2008/02/fili...