Q: Hi. If i have no tax liability (taxable last year around 22,000) can i claim exempt in w-4?
they're keeping refund due to defaulted student loan. debt was suspended or something due to disability for a number of years. You are required to report every year your status or something and I didn't. All they had to do was see that i was still collecting disability but that makes too much sense I guess its back on the books interest and all and they wont negotiate since its at thier collection agency I've tried two or three times and got nowhere. They did this as soon asIwent back to work for the enormous amount I currently earn.
A:
You can claim exempt on your W-4, if both of the following apply to you:
1. For the prior year, you had a right to a refund of all federal income tax withheld because you had no tax liability (this means you owed zero taxes not that you overwithheld and were entitled to a refund).
2. For the current year, you expect to have no tax liability (again this means zero not overwithholding).
If one or both of these do not apply to you then you will not be eligible to claim exempt on your W-4.
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