| Ralph:
MukatA and Twinkie both make good points.
If you know your income will be so low for 2008 that you will not have to pay any income taxes (under $9,000 for 2008), you can enter the word "exempt" on your W-4 and your employer will not withhold any federal income taxes from your salary.
A similar procedure is probably available for your state tax withholding as well.
If you exempt yourself and it turns out your total income for 2008 IS below $9,000, you then will not have to file a tax return for either the IRS or your state. |