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To figure out how many allowances to claim, use the IRS withholding calculator.
Make sure to have on hand your 2007 tax return and most recent paycheck stub. Once you answer a series of questions, the calculator gives specific directions on how to fill out a new W-4, even offering an estimated refund amount based on the number of exemptions it suggests. Set aside an hour to complete the calculator.Source: Hard to believe it but the INTERNAL REVENUE SERVICE (IRS)
By Diana from Prospect, KY
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