USA Offset Overpayment Mid-Year


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For 2016, I received an enormous refund because I added a home and two dependants to my otherwise EZ life.

Now in August 2017, my allowances remain unchanged and I'm certain I've already paid/withheld as much tax as is necessary for this year.

Now I need to maximize cash flow from my income immediately. Is it legal to claim an arbitrarily high number of allowances to offset this overpayment when, if questioned, I can prove I've already withheld sufficient taxes for this year?

Avoiding delay is super important, so I'm considering claiming 10 to avoid scrutiny. Isn't this silly, is it legal, or is there a better way to say "I'm done" for this year?

Much Appreciated!

- Missing Marbles
 
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Drmdcpa

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As long as your taxes are paid, your should be able to reduce your withholding by increasing your exemptions.

I try to balance withholding and cash flow for clients regularly.

Ideally when your return is filed you should owe or get back less than $1,000.
 

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