How do I complete a W-4 for a lump sum severance?

I have just signed a letter of agreement to receive a lump sum severance payment. I obviously would like to minimize my tax payment on this money. How to I complete my W-4 to save on taxes?? I've been trying to get advice from a CPA but no luck yet and they are pushing for my W-4. Can I put EXEMPT on the W-4 and then pay the taxes when I get the advice? I understand that I have to pay my part and the employer part of Social Security taxes out of this settlement.

0 answers  |  asked Feb 3, 2015 09:14 AM [EST]  |  applies to Maryland

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