Thank you for taking the time to answer my question. I guess this leads to another question. Let me tell you the scenario I am in. I installed Solar this year. I am expecting credit from Fed that totals $15k+. My tax liability will be around 8k. YTD 2500 has been withheld from my pay. I want to stop the withholdings from my pay so I receive a smaller refund check. I thought the only way to do this would be to change my allowances on my W4 to 10. After reading your answer, now I am wondering if I will owe a penalty for not having enough withheld to cover liability or because I won't have to send a check, I won't be penalized? I just don't want a loophole of the feds saying, well, even though you have a credit, you still didn't have enough withheld to cover current liability so we are slapping you with penalties.
