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W4 Form 2022 Printable – The W-4 form, more technically known as the “Employee’s Withholding Certificate,” is a document issued by the Internal Revenue Service (IRS) that instructs employers on the amount of tax that should be withheld from each paycheck. Employers compute workers’ share of various payroll taxes using the W-4 form and then send those taxes to the Internal Revenue Service (IRS) and the state (if appropriate) on employees’ behalf.
If your company already has a completed W-4 on file for you, you do not need to fill out the new form they gave you. In addition, you are not required to complete a new W-4 form each year. However, if you start a new job or wish to change the amount of money that is withheld from your paycheck at your current work, you will most likely need to fill out a new W-4. In any case, it is an excellent reason to look at your tax withholdings again.
W4 Form 2022 Printable
Print W-4 Form 2022 HERE.
What Information Should I Include on My W-4 Form?
If you filed your taxes last year and received a hefty tax bill as a result, and you don’t want another one, you may utilize Form W-4 to raise the amount of money withheld from your paycheck. The next time you file that will assist you to owe less (or even nothing) in back taxes. If you received a large tax refund the previous year, you are effectively giving the government a loan for free and may be forced to make do with a smaller portion of each paycheck for the remainder of the year. Think about reducing your tax withholding by filling out a W-4 form.
The W-4 Form has Changed
In the previous, workers could reduce the amount of federal income tax deducted from their paychecks by claiming allowances on their W-4 tax forms. When an employee submitted a higher number of withholding allowances, their employer reduced the amount of money taken out of their paychecks. Nevertheless, the Tax Cuts and Jobs Act of 2017 revised many tax laws, one of which was the elimination of personal exemptions. Because of this, the Internal Revenue Service changed the W-4 form.
The updated W-4 form, which will be implemented in 2020, will continue to request basic personal information but will no longer request several permits. Employees who wish to reduce the amount of tax withheld from their paychecks must now either declare dependents or utilize a deductions worksheet.