A W-4 form is a form that an employee completes when he is first hired in order for his employer to know how much withholding allowances the employee is claiming, explains the Internal Revenue Service. Forms are located on the official IRS website.Continue Reading
Taxpayers can find W-4 forms by looking under the Forms and Publications heading on the home page of IRS.gov. By clicking on the link for the W-4 form, users can view, download and print the downloadable PDF file, explains the IRS.
An employee need to complete a W-4 form so that employers know how much in employment taxes to withdraw from his paycheck every pay period, says Turbo Tax. When an employee completes a W-4, this helps to ensure he won't have a big tax balance due when it comes time to file income taxes, and it also helps with the overpayment of taxes.
The IRS recommends that if an employee works more than one job, he should claim all of his allowances on the W-4 for the job that pays the most, and claim zero on the other jobs. A taxpayer should also complete a new W-4 every time there is a life-changing event, such as a marriage or birth of a child, explains Turbo Tax.Learn more about Taxes