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What is form It-2104 for?

Overview. Form IT-2104 is completed by you, as an employee, and given to your employer to instruct them how much New York State (and New York City and Yonkers) tax to withhold from your pay and send to the New York State Tax Department on your behalf.

Is it-2104 optional?

New York State law requires each employee to fill out an IT-2104 form, so employers can withhold the correct amount of taxes from their paychecks. The IT-2104 form is an essential document for New York employers when it comes to payroll administration.

Is it-2104 optional?

New York State law requires each employee to fill out an IT-2104 form, so employers can withhold the correct amount of taxes from their paychecks. The IT-2104 form is an essential document for New York employers when it comes to payroll administration.

What happens if I dont claim any allowances?

Allowances matter. If you dont claim enough of them and you have too much money sent to the government, youll end up with a tax refund. But if you claim too many allowances, youll probably owe the IRS some money at the end of the tax year and possibly pay a penalty for your mistake.

Is it better to claim 0 or exempt?

If you claim 0, you should expect a larger refund check. By increasing the amount of money withheld from each paycheck, youll be paying more than youll probably owe in taxes and get an excess amount back almost like saving money with the government every year instead of in a savings account.