Tax Trails - Can You Claim Exemption from Withholding on Form W-4?

You CAN claim exemption from withholding.

To claim exemption, you must give your employer a Form W-4 (PDF). Do not complete lines 5 and 6. Enter “Exempt” on line 7. An exemption is good for only one year. You must give your employer a new Form W-4 by February 15 each year to continue your exemption.