How to Fill Out a W4 Withholding Allowance Certificate
You must complete many forms when you start a new job, but one of the most important is the Internal Revenue Service W-4 form. Your new employer uses the information on your W-4 form to determine the proper amount of tax withholding from your paycheck. Understanding how to complete this form can give you more money in your paycheck while helping you avoid paying more taxes than you need to.
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Instructions
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Enter your full name and address in section one of the W-4 form. Enter your Social Security number in section two. Double-check your Social Security number for accuracy.
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Check the appropriate box for your marital status in section three of the W-4 form. Use section four only if you need to make a correction to your last name, i.e. if you have recently gotten married.
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Enter the total number of allowances you are claiming on your W-4 form. You can enter an allowance for yourself and your spouse, and one for each dependent. However, if your spouse works and earns more than $1,500, claiming that exemption could leave you owing additional taxes when you complete your return. If you work a second job and earn more than $1,500 you may not want to claim yourself as an exemption either. Claiming too many exemptions could reduce your withholding too much and leave you owing money to the IRS.
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Use section six if you want to have additional money withheld from your paycheck. This is useful if you run a business on the side or do consulting work. Having extra money withheld can reduce the amount of taxes you owe at the end of the year.
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Fill out section seven if you are claiming exemption from Federal withholding. You should only use this section if you received a refund for all Federal taxes withheld last year and you expect to not owe any Federal taxes for the coming year.
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Sign and date your W-4 form. Make a copy for your records and give the original to your employer.
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