W-4 Layoff Deduction I am getting laid off from my employer on June 30.
I am single and on my W-4 have been claiming only 1 deduction.
I will be getting a severance and vacation check, of around $14,200... minus whatever taxes are taken by the U.S. Government.
In order to increase the amount I will recieve...
because I will need the money to pay rent, purchase food, pay bills, and so on...
and in case I fail to gain good paying employment right away...
can I raise my W-4 deduction in order to reduce the amount of taxes taken from the check?
In other words, I'm willing to pay taxes on this amount at the end of the year.
I'd appreciate your advice.
Last edited by Michael Ragsdale : 05-18-2009 at 12:12 PM.
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