31.3402(f) (2)-1T(g)(2)(iv), an employee may appeal the IRS-imposed limit on withholding exemptions
by submitting a new Form W-4, along with a written statement supporting his or her number of exemptions, directly to the Service rather than to the employer (which was required under the former regulations).
71-52, but until it changed that ruling, it was extending payroll and withholding exemptions
to ISOs and disqualifying dispositions of statutory option stocks.
A simple example comes to mind: Years ago, people got the ingenious idea that if they put 99 withholding exemptions
on their W-4s, there'd be no withholding.
Q: What are withholding exemptions for individual sellers?
Q: When sellers certify that they meet a withholding exemption, should the information be sent to the FTB for review and approval?