exempt on w4 and pay quarterly estimated tax instead

[tbt13]

I have not held a job for years and been just paying quarterly estimated taxes. Recently I got a new position and I am wondering if IRS allows me to write exempt on w4 and i will handle my own prepayment by paying quarterly estimated taxes?

[Bsch4477]

See the excellent answer below from 

@Mike9241. 

[Mike9241 · Accepted solution]

w-4 instrcutions, Exemption from withholding. You may claim exemption
from withholding for 2021 if you meet both of the following
conditions: you had no federal income tax liability in 2020
and you expect to have no federal income tax liability in
2021. You had no federal income tax liability in 2020 if (1)
your total tax on line 24 on your 2020 Form 1040 or 1040-SR
is zero (or less than the sum of lines 27, 28, 29, and 30), or
(2) you were not required to file a return because your
income was below the filing threshold for your correct filing
status. If you claim exemption, you will have no income tax
withheld from your paycheck and may owe taxes and
penalties when you file your 2021 tax return. To claim
exemption from withholding, certify that you meet both of
the conditions above by writing “Exempt” on Form W-4 in
the space below Step 4(c). Then, complete Steps 1(a), 1(b),
and 5. Do not complete any other steps. You will need to
submit a new Form W-4 by February 15, 2022.

if you falsify the w-4 to avoid withholding you could be hit with a penalty and up to 1 year in jail.