03. June 2013 · Comments Off · Categories: Tax Form · Tags: ,

W-4 TAX FORM

Every American who is working is under an obligation to pay tax. Employees have their taxes deducted by their employers from the paychecks. New employees fill out the W4 form at the onset of the job indicating their social security number as well as any exceptions that they will be taking. The form acts as a guide to the employers as to the amounts that they should deduct from the employee’s paycheck. It is important that you read and understand the W4 questions before filling the form. One thing that you have to acknowledge is that you need to make calculations as to the allowances you need to claim. The following guidelines should be of help in filling out the form:

• Section 1 incorporates the worksheet for personal allowances. W4 questions in this section will be in the will mainly be concerning your allowances as well as whether you have dependants or you are independent. Questions pertaining to child tax credit or dependent care expenses will be asked. It would be important that you carefully read the questions.

• The next section will incorporate personal information. You need to enter your name, home address, social security number, marital status, state, zip code as well as city in the steps numbered 1 to 4.

• In step five, you are supposed to fill W4 questions pertaining to the total number of allowances that you will be claiming. One thing you have to note however is that it should be the sum total of the section I steps A to G.

• In step six, you will find W4 questions pertaining to the amounts that you would want withheld pertaining to every section.

This however is not mandatory and therefore if you would not like to have amounts in any section withheld, you should not write anything in this step. Just leave it blank.

• You should indicate Exempt in the next step depending on your qualifications. This would be the case if the previous year you had expectations pertaining to refunds of withheld federal income tax due to no tax liability. However, you must be expecting refunds in the current year as well to qualify as exempt.

• After you have filled out the W4 questions, it would be important that you sign the form beside the Employee’s Signature as well as indicate the current date. Note that the form will be rendered invalid if it does not have your signature.

• If the form is to be sent to the Internal Revenue Service, you would have to fill steps 8 through 10. The employer will also have to fill in their address and name as well as their identification number.

It would be important to the multiple jobs worksheet if you are in possession of more two or more jobs. Married people whose combined income exceeds 40000 pounds should also fill this section. Note that the number you entered in line H will also be entered on page one.

One thing that you have to note is the essence of being honest and accurate when completing the W4 questions. It would also be important that you do not leave any mandatory questions unanswered.

2013-06-03T12:19:51Z – Dear God I never filled out a w-4 (tax) form before. Major confuzzlement

I need to submit an Oklahoma W-4 tax form for my payroll withholding. Where can I print off this document?

Answer by Celeste
Not all states have their own withholding certificate.
Oklahoma does not have a state withholding form. Employers use the federal W-4 form for state and federal withholding purposes.
You can download W-4 forms from the IRS.gov website or you can order the forms by calling 1-800-829-3676.

2013-05-31T21:23:03Z – #IRS advises students with summer jobs to file out Form W-4 as a new employee and help with the W-4 is available at http://t.co/s8UIJzqcEv

Every American who is working is under an obligation to pay tax. Employees have their taxes deducted by their employers from the paychecks. New employees fill out the W4 form at the onset of the job indicating their social security number as well as any exceptions that they will be taking. The form acts as a guide to the employers as to the amounts that they should deduct from the employee’s paycheck. It is important that you read and understand the W4 questions before filling the form. One thing that you have to acknowledge is that you need to make calculations as to the allowances you need to claim. The following guidelines should be of help in filling out the form:

• Section 1 incorporates the worksheet for personal allowances. W4 questions in this section will be in the will mainly be concerning your allowances as well as whether you have dependants or you are independent. Questions pertaining to child tax credit or dependent care expenses will be asked. It would be important that you carefully read the questions.

• The next section will incorporate personal information. You need to enter your name, home address, social security number, marital status, state, zip code as well as city in the steps numbered 1 to 4.

• In step five, you are supposed to fill W4 questions pertaining to the total number of allowances that you will be claiming. One thing you have to note however is that it should be the sum total of the section I steps A to G.

• In step six, you will find W4 questions pertaining to the amounts that you would want withheld pertaining to every section.

This however is not mandatory and therefore if you would not like to have amounts in any section withheld, you should not write anything in this step. Just leave it blank.

• You should indicate Exempt in the next step depending on your qualifications. This would be the case if the previous year you had expectations pertaining to refunds of withheld federal income tax due to no tax liability. However, you must be expecting refunds in the current year as well to qualify as exempt.

• After you have filled out the W4 questions, it would be important that you sign the form beside the Employee’s Signature as well as indicate the current date. Note that the form will be rendered invalid if it does not have your signature.

• If the form is to be sent to the Internal Revenue Service, you would have to fill steps 8 through 10. The employer will also have to fill in their address and name as well as their identification number.

It would be important to the multiple jobs worksheet if you are in possession of more two or more jobs. Married people whose combined income exceeds 40000 pounds should also fill this section. Note that the number you entered in line H will also be entered on page one.

One thing that you have to note is the essence of being honest and accurate when completing the W4 questions. It would also be important that you do not leave any mandatory questions unanswered.

 It is time for employers to create thoughts about W2 Forms. employer are necessary to issue W-2 forms to their workers no later than January 31, 2014 and necessary to file W2 A and W3 forms with the Social Security management no later than February 28, 2014. The February 28, 2014 due date is if filed on document, if filing electronically the due date is extended to March 31, 2014.

Employers have 2 options to generate Form W2 themselves. That by payroll software may have the selection to print w2 forms straight from their software. If that choice is not obtainable they may select to utilize W-2 software.

In general payroll software robotically generates Form W-2 using the payroll data generated throughout the year for each worker. Enter general company information counting employer identification number and address. Subsequently enter worker common information including Social Security Number and address. Because filing status, number of exemptions and pay regularity all go in to determining the amount of income tax withholding, which is reflected on employee’s Form W2, this is important data to add to your payroll software. Once your payroll program has been set-up with your company data you are prepared to make checks and print W2 forms.

In payroll software click the pay button, bring up the employee’s pay check information. For hourly or per piece workers enter the number of hours or pieces, for salaried employees the gross income will by design be entered and for variable types of incomes such as commission the user will enter the gross income.

By entering these amounts and hitting the tab key on the keyboard the payroll provider will see the withholding information which will then automatically move to Form W2.

Make payroll checks that automatically calculate 2014 federal and state income tax withholding. The income tax withholding from the checks will robotically be populated on Form W-2. Box 1 will comprise federally taxable wages, Box 2 federal income tax withheld, Box 3 social security wages, Box 4 social security tax withheld, Box 5 Medicare wages, Box 6 Medicare tax withheld, Box 7 social security tips, Box 8 Allocated tips, Box 9 advance EIC payments, Box 10 dependent care payback, Boxes 11, 12 a, 12b, 12c, 12d, 13, 14 will all be brought over from the payroll checks that have been created in the system. State tax Boxes 15 through 20 will include the withholdings from the employees’ checks pertaining to state income tax where relevant.

For employers not using automated payroll software a good choice for printing Form W2 is W2 software. Separate W2 software allows the user to fill in company, employee and W2 data directly on W2 forms. Then print W-2 forms to issue to workers and submit to the Social Security management.

Employers are necessary to report employee wages and income tax withholding to the Social Security Administration. Get detailed Form W2 instructions on the (IRS) Internal Revenue Service website.

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