Task 2-3 W-4

478 Words2 Pages
Ethics Writing Assignment The purpose the W-4 form is to allow employers to determine the amount of withholding to deduct from pay to satisfy the tax liability. The Internal Revenue Service requires withholdings from salary as payment on liability throughout the year. An individual may face penalties for underpaying taxes through the year. It is beneficial to the taxpayer to fill the form out with intentions of breaking even with the Internal Revenue Service. I would advise against Rocky Jackson’s plan to claim as few allowances as possible in order to receive a large refund from the Internal Revenue Service. I do not feel that his plan is unethical, however I do not think it is in his best financial interest to carry out the action. In order to better advise Rocky, I would ask him what his intentions are for the large return. Based on his plan for the return, I would advise Rocky to consider using his maximum allowances and planning to make his own deductions to reach his goal. I would advise Rocky to consider using his maximum allowances and planning to make his own deductions to reach his goal.…show more content…
Individuals may struggle with making their own deductions from pay, but this principle is clearly outlined in Corinthians 16:2. This verse encourages individuals to plan a date to set aside a set amount of money for financial needs. This is a better option than the large return because the money will earn interest over the course of time. These options are ideal for someone that wants easy access to the money in savings. Although the certificate of deposit has time constraints, there are options that are for less than a year and if he chooses to have a one-time refund he would not have availability to the money for at least a

More about Task 2-3 W-4

Open Document