Example:
Internal Revenue Manual Part 5. Collecting Process · 2026-10-03 edition · updated 2026-10-04 · United States
An employee gives their employer a W–4 in November and the form was in effect until the end of the year. The amount of tax withheld up to the date of the W–4 was greater than the tax shown (TC 150) on the subsequently filed Form 1040, U.S. Individual Income Tax Return. The penalty should be waived if proposed, or abated if assessed.
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