Information for those who wish to continue exempt tax status for 2008.
For employees who are claiming exempt on their W-4, February 15, 2008, is an important date to keep in mind.
If an employee claims exempt on their W-4’s, the employer will not withhold federal tax on their income, however Social Security tax and Medicare will be applied. Every year, those who claim exempt on their W-4 will need to renew their status in the beginning of the new year, if they wish to continue as exempt.
Anyone who has filed “exempt” on his or her W-4, (2007) is required by the Internal Revenue Service to complete a new W-4 each year. If not completed and received by StaffScapes on or by February 15, 2008, the filing status and exemptions will automatically be changed to “single and 0”.
As a reminder, StaffScapes will send personal letters to all current employees claiming exempt and notify them of the deadline.
If you have any questions, regarding the W-4 and exempt status, please call StaffScapes at 303-466-7864.