What is the name of your state (only U.S. law)? Virginia
Is there any legal restriction on adjusting Virginia withholdings?
To clarify, one can essentially claim any number of allowances on a federal W-4 to influence the amount of one's withholdings. This is useful if you have large deductions to reduce the likelihood of a large tax refund. Additionally, the worksheet for form W-4 encourages the taxpayer to estimate their itemized deductions and use those deductions to determine the number of allowances they claim.
The comparable Virginia form, VA-4, is worded differently. It simply asks you for the number of exemptions that the taxpayer will claim on form 760, rather than asking for a number of "allowances" or considering expected deductions from income. As a result it seems like Virginia withholdings are fixed and if you have large deductions there is no easy way to avoid a large refund. Is this an accurate assessment of Virginia Dept of Taxation's position or is it acceptable to put a larger number on the form than the exemptions that one is entitled to in order to limit withholdings in the same way one can legally do on the federal W-4?
Is there any legal restriction on adjusting Virginia withholdings?
To clarify, one can essentially claim any number of allowances on a federal W-4 to influence the amount of one's withholdings. This is useful if you have large deductions to reduce the likelihood of a large tax refund. Additionally, the worksheet for form W-4 encourages the taxpayer to estimate their itemized deductions and use those deductions to determine the number of allowances they claim.
The comparable Virginia form, VA-4, is worded differently. It simply asks you for the number of exemptions that the taxpayer will claim on form 760, rather than asking for a number of "allowances" or considering expected deductions from income. As a result it seems like Virginia withholdings are fixed and if you have large deductions there is no easy way to avoid a large refund. Is this an accurate assessment of Virginia Dept of Taxation's position or is it acceptable to put a larger number on the form than the exemptions that one is entitled to in order to limit withholdings in the same way one can legally do on the federal W-4?
