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The W-4 form is an Employee’s Withholding Allowance Certificate designed to let your employer know how much of your income to withhold for federal taxes.
The W-4 Form includes a series of worksheets for calculating the number of allowances to claim. One must provide some personal information and report the total allowances and additional withholding amounts on the actual form. The employee must tear off this certificate and hand it to their employer.
The Form W-2, Wage and Tax Statement, is used to report wages paid to employees and the taxes withheld from them. [44] Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship.
It’s called tax withholding, and the process requires nearly all employers to siphon off a portion of nearly every employee’s check every single pay period.
Form W-2 (officially, the " Wage and Tax Statement ") is an Internal Revenue Service (IRS) tax form used in the United States to report wages paid to employees and the taxes withheld from them. [1]
You can see the exact dollar amount of your tax withholdings on your pay stub each pay period, and you can adjust your withholdings by submitting a new W-4 as often as you wish.
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