General Questions
Are the figures on this site current?
All pages show 2026 IRS figures as the primary reference. Where 2026 limits have not yet been formally published by the IRS, the most recent available figures (2025) are displayed with a clear notation. Pages are updated as IRS announcements are made.
Does this site calculate my taxes?
No. This is a reference site — it provides the thresholds, rules, and limits. For actual calculations, use the free tools at calc-hq.com.
Is this tax advice?
No. Nothing on TaxExemptForms.com is tax advice. The information here is for educational and reference purposes only. Consult a qualified CPA or tax attorney for advice specific to your situation.
W-4 Questions
Can I claim exempt on my W-4?
Only if you had zero federal income tax liability in the prior year and expect zero liability in the current year. If you claim exempt when you owe tax, you may face penalties. See the W-4 Withholding page for full eligibility rules.
Does claiming exempt mean I don't pay Social Security or Medicare tax?
No. Claiming exempt on Form W-4 only affects federal income tax withholding. Social Security (6.2%) and Medicare (1.45%) are withheld regardless.
HSA & FSA Questions
Can I have both an HSA and an FSA?
Not a standard healthcare FSA. If you have an HSA, you can only have a Limited Purpose FSA (covering dental and vision only). A Dependent Care FSA is always permitted alongside an HSA. See the HSA Limits page for more detail.
What happens to FSA money I don't use?
It depends on your plan. Plans may offer either a carryover (up to $680 in 2026) or a 2.5-month grace period — not both. Any amount above the carryover limit is forfeited. See the FSA Limits page.
Retirement Questions
Can I contribute to both a 401(k) and an IRA in the same year?
Yes. The 401(k) employee contribution limit ($24,500 in 2026) and the IRA contribution limit ($7,500) are completely separate. You can max both in the same tax year.
What is the super catch-up contribution?
Under SECURE 2.0, workers aged 60–63 can contribute an additional $11,250 to their 401(k) or 403(b) in 2026 — higher than the standard $8,000 catch-up for workers 50 and older. See the 401(k) & IRA Limits page.