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I download Pub 15-T to see what they did with the withholding tables. It has both the old W4 method and the new. The old W4 is basically the same with a standard deduction of 3,800 for single plus 4,300 per allowance, so that claiming single 2 gets you to an annual exclusion of 12,400, exactly the 2020 standard deduction. The new W4 tables don't have an annual table, so I used the monthly table for single without the 'two jobs' box checked on the W4, and the standard deduction amount is 1,033. Times 12 = 12,396. If you check the box for two jobs, it cuts the standard deduction amount in half (517 x 12 = 6,198). I wish they had built a little cushion into the new tables by using, say 10,000 for the standard deduction because I'm afraid this is going to cause a lot of people to be under withheld, especially hourly workers with varying hours. I'm going to recommend that people enter extra withholding on the new W4 more often than not, so they don't get mad at me when their refund is a lot smaller or nonexistent.

Was unaware we had a Supreme Guru. I feel more secure. A post of mine a few years back returned almost thirty responses and hardly anyone agreed with anyone else as to the correct answer.

If, as you've stated over and over, the employer should take no responsibility beyond knowing that the form isn't invalid, then why would the employer be involved in the 100K discussion at all or be memorializing the conversation? By your phrase "and it makes sense" it sounds as if you are suggesting that the employer is to evaluate the entries, not for validity of an acceptable entry on any given line, but to rate it as to their effect on the resulting withholding. Is that what you intend? In the case of the 100K of deductions, why isn't the employer still totally uninvolved, and why isn't the signed and dated W-4 enough?

That would give us a reminder that it is time to donate again. Everyone donates at a different time. I also have no idea what it cost to keep this forum up and running. I know there is also a time factor along with the actual hard cost to operate.

Has anybody ever noticed that when the owner dies and the kids take over; as a general rule everything goes to pot? The biz gets split up, screwed up, or sold!

You do NOT need addresses on 1099Rs. That's the secret. Only W2s require addresses. It's a huge waste of time to enter the address and EIN on 1099-INT or DIV or MISC or K1s. It's also a huge waste of time to type the whole name on a 1099R. I've seen people type things like: State of Missouri Teachers Retirement System Metropolitan Life Insurance Company, Inc. I just type: Missouri Metlife Never had a problem. Which means IRS is just matching the EIN. And I never enter any punctuation either. Not even apostrophes in names like O'Brien.

This isn’t something I worry about much. My client base is aging as I do, and as each retires to a state that isn’t CA, I jump for joy since that’s another return I won’t have to pay CA tax on! I consider myself semi-retired. Last year was the first year I had steady work through the season, but wasn’t overwhelmed. My assistant didn’t need to come from Sacramento to help. Yet surprisingly enough, I seem to have made a about the same amount of money! i say,if someone finds me, fine. If someone leaves, also fine. I’ve got other sources of income, but need the tax biz cash for a few years yet.