The Form W-4, an Employee’s Withholding Allowance Certificate, is completed by each new employee to indicate the amount of federal tax the employer should withhold from his or her wages. An employee that does not submit a completed W-4 will be set-up as "Single" with no allowances. An employee’s Form W-4 remains in effect until a new form is completed. An employee is able to make changes to their Form W-4 throughout the year, until he/she is satisfied with the amount withheld each pay period.
An employee must complete a new Form W-4 if-
- Change in filing status such as a marriage or divorce.
- Change in number of exemption allowances, such as when a child is no longer claimed as a dependent, or when there is a change in the amount of deductions or credits allowed.
You may access this form from the IRS webpage: www.irs.gov
Coming in 2020 a new W-4 form
To avoid tax filing surprises, the IRS urges tax payers to check their withholding and adjust it, if needed. It’s especially important to use the Tax Withholding Estimator now if an employee:
- Faced an unexpected tax bill or penalty when filing last year
- Made withholding adjustments in 2019
- Has or will experience a change in marital status, dependents, income or jobs in the year