I'm going to start my intern year in June like many people on SDN and I am trying to estimate how many withholding allowances to claim on my first W-4 form. I went to the IRS withholding calculator found below and filled it out assuming that I am only working for half of 2008 (June to December). So, for yearly income I put in half of my expected yearly PGY1 income and I put $2500 under adjustments for the education loan interest that I intend to pay off for that period. I changed the closest work date to May 1st and put zero for almost every other field. It suggested that I put 4 allowances and that I would pay just over $1000 in federal income tax for this 2008 period. http://www.irs.gov/individuals/article/0,,id=96196,00.html Does this sound about right? 4 allowances?