Printer Friendly

EMPLOYED STUDENTS SHOULD CONSIDER TAX WITHHOLDING OPTIONS

 EMPLOYED STUDENTS SHOULD CONSIDER TAX WITHHOLDING OPTIONS
 DALLAS, Nov. 27 /PRNewswire/ -- Students who have part-time or


vacation jobs should consider whether or not to have federal taxes withheld from their wages, an IRS spokesperson said today.
 Students should prepare IRS Form W-4, Employees Withholding Allowance Certificate, to inform their employers of their withholding status.
 When preparing Form W-4, a student employee should consider how much his or her total year's income will be, as well as whether or not he or she can be claimed as a dependent on another person's tax return.
 Employees may elect exempt status and have no federal income tax withheld from their wages in certain circumstances. To qualify for exemption, the employee must have had a right to a refund of all federal income tax withheld last year because he or she had no income tax liability, and the same situation is expected again this year.
 Further information is available in IRS Publication 4, Student's Guide to Federal Income Tax. This booklet and Form W-4 are available free at you local IRS office or by calling, toll free, 800-TAX-FORM.
 -0- 11/27/91 R
 /CONTACT: Arizona, Marti Hossimer, 602-379-3488; Colorado, Rosemary Campbell, 303-844-3329; Kansas, James Manuszak, 316-291-6400; New Mexico, Laura Criel, 505-766-2537; Oklahoma, David Stell, 405-231- 5091; East Texas, Steve Yost, 713-653-3670; North Texas, Marlene Gaysek, 214-767-1424; West Texas, Sally Sassen, 512-499-5315; Utah, Jan Hadley, 801-524-5297; or Wyoming, Tim Harms, 307-772-2162, of the Internal Revenue Service/ CO: Internal Revenue Service ST: Arizona, Colorado, Kansas, New Mexico, Oklahoma, Texas, Utah IN: SU:


BB -- DV008 -- 8013 11/29/91 08:30 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 29, 1991
Words:265
Previous Article:CARMEL CONTAINER SYSTEMS REPORTS RESULTS FOR THE FIRST SIX MONTHS OF 1991
Next Article:CHIQUITA ANNOUNCES PUBLIC OFFERING OF 250 MILLION SENIOR NOTES DUE 2004
Topics:


Related Articles
NEW TAX LAW COULD TAKE 20 PERCENT OF RETIREMENT SAVINGS
Executive options under Clinton.
LDP to mull keeping withholding tax on capital gains.
Shiokawa reiterates intention to abolish dual tax on stocks.
Tax panel chief backs structural reform in stock market.
Early abolition of withholding tax on stocks proposed.
IRS issues new rules on stock options.
TEI comments on nonqualified stock options: June 9, 2003.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters