Per Diem or not Per Diem...that is the question

I want to get off my companies per diem plan...they charge me 2 cpm to manage it.
Now...my idea is this
I was thinking about maxing out my dependent status in order to maximize my weekly check. Then...at the end of the year, report my real dependents (which is 0 ) and file my per diem to counter the tax hit.
I figure the tax hit I take at the end of the year for reporting too many dependents will be balanced out more or less with my per diem tax break.

question...

Would this idea work?
Is it legal?

 

Well, what I was thinking was....
Claim the dependents now. This keeps my weekly check from being taxed too heavily. Then, at the end of the year, claim only myself. I know I'll have to pay those taxes saved during the year back, but I was thinking that filing my per diem would counter that.

Now...would I have to save all of my food receipts? and such? too?

My company pays me 16 cpm tax free for per diem...and another 18 cpm taxed....and 2cpm charge for the per diem fee (total pay 36cpm)
Next year I get a 2cpm raise...so I wanted to just get my straight 38cpm, but I don't want to get slammed all year in taxes and hope for a big tax return.
I would rather go light on taxes all year and get zero return instead.

Can this be done? Is anyone doing something similar with success?

 

Thanks for the link...I read it, but it doesn't really answer my question.
Basically, I want to lie about my dependents all year long and then come clean at the end of the year.
Thus..I will pay my taxes, only at the end of the year, when I can use my per diem to counter them...hopefully resulting in very little extra to pay...if any at all.
This way I can get my 2cpm back minus any tax services fee...which I'm thinking are at most $500, which would save me about $1500 / yr.

 

Why would it be illegal?
I'm not trying to NOT pay my taxes. I'm only trying time my tax payment in line with my per diem tax credit.

 

I think I can do that...so long as I eventually make sure I pay up based on this.....

Q8: What should I do if an employee submits a valid Form W-4 that appears to be claiming an incorrect withholding amount?
A8: You should withhold federal income tax based on the allowances claimed on the Form W-4. But, you should advise the employee that the IRS may review withholding to ensure it is adequate, and that the IRS may direct you, as the employer, to withhold income tax for the employee at a certain rate if the review indicates the employee’s withholding is inadequate. Once this occurs the employee will not be allowed to decrease their withholding unless approved by the IRS.

Tyvm for your help and I can appreciate your code on ethics =)