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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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I am wondering if you can request that your employer

Resolved Question:

I am wondering if you can request that your employer not deduct just federal and state income tax on just one paycheck? Here''s the background...I have a recoverable draw with a company that I am leaving. I have received the draw and obviously taxes were deducted. My future employer has agreed to offset the recoverable draw due by paying me the same amount as a signing bonus, and I will use that to pay my former employer back. The issue is really a cash flow issue. If taxes are taken out of the bonus on the same amount that I am paying back I will not have enough for the reimbursement at the time its due.
Submitted: 8 years ago.
Category: Tax
Expert:  Lev replied 8 years ago.

Generally - you may not request that an employer would withhold differently from any specific check.

What you may do - if you believe that your withholding from previous employer will cover your total tax liability for the tax year - you may file W4 form - http://www.irs.gov/pub/irs-pdf/fw4.pdf with the new employer as EXEMPT - but should change your filing from next year.

If you believe that your withholding from previous employer will not cover your total tax liability for the tax year - you may increase allowances on W4 form with the new employer.

Some payments - bonus, signing bonus - supplemental wages - are normally subject of flat 25% withholding regardless of your W4 filing.

If you need help with estimation of your tax liability and expected withholding - let me know.

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