How to Fill Out an IRS W-4 Form | Money Instructor

In this video, we'll provide a basic step-by-step guide on how to fill out a W4 form, the Employee's Withholding Certificate, an important document for your employment paperwork. You'll learn about the different sections of the form, such as personal information, dependents and other credits, and adjustments to your tax withholding. The W-4 form for 2024 is similar to the 2023 version in terms of the steps outlined in the instructions.

An overview of W-4 Forms for employees. Understanding an IRS W-4 form is an essential step in ensuring that you're paying the right amount of federal income tax. The form is a critical component of your employment paperwork as it helps your employer determine how much federal income tax to withhold from your paycheck. It consists of several sections, such as personal information, claiming dependents, and making adjustments to your tax withholding. Also, it's crucial to update the W-4 form whenever your tax situation changes, such as getting married or having a child. By following the instructions carefully and providing accurate information, you can help avoid any surprises come tax time. Remember to fill out the updated 2023 W4 form, to avoid any discrepancies in tax withholding.

Learn to navigate IRS Form W-4, focusing on handling multiple jobs, claiming dependents, adjusting deductions and other income, and utilizing the IRS Tax Estimator tool for accurate tax withholding.

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Money Instructor does not provide tax, legal or accounting advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.

[deem]

The form was better before than it is now. Now, we have to project how much tax should be deducted based on last year's tax forms. I'm not a tax expert by any means, and I'm 38. I started a new job, and now I have to figure this out. I will look at my last job pay stub and see how much they took out so I can mirror it. The problem is employers can't help with this either. Good luck, everyone.

[jharnagy]

Thanks for this! As an employer of minors. For MOST, most of this form doesn't apply. They generally do not make enough to owe much in taxes. But, all the instructions for this are pretty complicated for a 14 year old to sort out. Having a part in here about how minors a) should check with parents & b) probably will enter $0 everywhere would be a great addition.

[Quan-gotta_go]

i’m 17 and just got one it’s crazy they never teach us this in school but we gotta learn about how words can be used in math tf is wrong with are countrie

[thetxkidd]

I need help.

From 2013 to early 2022 I worked my first job and every year my refund was $1000+. I don't remember what I had put on my W4. In late 2022 I left that job and started a new one. When I filled out the W4, i didn't know what to do and couldn't get help, so I left everything blank except for Step 1. I just did my taxes and I'm only getting $95 back as a refund. What did I do wrong? Am I going to have to owe next year?

[jenniferfrey]

This is super helpful. Thank you money man

[nibiaburke]

Thank you for the help . Explain 👍 good.

[spookydaze]

Thank you SO much for making this video, I really appreciate it. And I would like to request if you can make a video about how to fill out a 1099 form. Thank you!

[kindree]

Hello,

I am in the process of starting my first job. I wanted to ask questions about the California DE 4 Employee's Withholding Allowance Certificate...

1. Where it says Filing status: Single or Married (with two or more incomes), is the two or more incomes part referring only to married people, or does it also mean single people with two or more incomes? Basically, I am asking if I am allowed to click that option if I am single with only one income.

2. The checklist system from my work that I am using to submit all my documents has the number 0 automatically filled in 1a. 1b. and 1c. Do I keep it that way or should I insert different numbers?
Thank you! I am very new and confused about this whole allowance thing.

3. This is a another question I had since I checked myself as Single on the W-4 form: Can my filing status be Single and Dependent at the same time? Because I am a full time student, under 24, graduating in May 2024 and I am a dependent under my parents but I am also getting a job, so would that make my filing status Single and Dependent, just Dependent, or just Single?

Thanks so much

[Katie-cexj]

I'm so confused. In the past, I've put 0 for w-4 claiming zero so the right amount of taxes could be taken out. In the 2023 form, there is no line 5 to claim 0. I filled out my info, signed it, and turned it in. Does this mean the right amount of taxes will be taken out? Or will I end up owing?

[yareruiz]

So do I write how much I want them to take out or the %? I still don’t get it. My employer can’t help I was told is “out of their scope of practice” 😭😭😭

[SuperGreatSphinx]

Form W-4 (officially, the "Employee's Withholding Allowance Certificate") is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer.

The W-4 form tells the employer the correct amount of federal tax to withhold from an employee's paycheck.

[Emcee-wwvy]

Hi! What amount should I put under step 4 letter C extra withholding? Thanks in advance

[CuriosityOverbay]

What happens if we don't care if "too much or too little" tax is withheld? Is it okay to just use our best surface knowledge to fill out this form while fully being okay with receiving a big bill or a big refund come tax time, or can we get into actual legal trouble if we don't do a full-on investigation of our finances/consult a live tax professional every time we have to fill one of these out?

TL;DR, is the penalty for a mistake on the form worse than just paying more taxes later or having more withheld now? Should I be worried about arrests or lawsuits if I'm not perfect throughout the year (outside of my actual taxes due in April)?

[SurferJoy]

Should I claim 0 if I don’t have any one I’m supporting other than myself?

[danevertt]

How come I have additional pages??

After step 5 and the signing, I have step 2B, 4B, ect

[NokiaBrown]

What does the numbers mean and or do they indicate the year? For example W-2, W-4. Just getting an understanding.

[laurenwood-ex]

If I am starting a new job in July, but haven’t made enough money at the first one for them to start taking out taxes (less than 13k), should I check box 2c so they take out more taxes so I don’t owe a lot next year? I will have had 2 jobs total this year with no overlap.

[spilledinsilence]

I apparently got this wrong when I setup my w-4 for a seasonal (2nd) job....cause I owed a little bit this year. Aaaand would like to not make that mistake this year.

My second job is at an amusement park, so it can be weather pending. A few months we are closed, then can range from 16hrs/month- almost 100hrs/month.

Would some of those months be "working for free" with how withholding is taken out?

[albertov]

What if I signed on the wrong spot? Do I just cross it out with a single straight line?

[Retops]

If i pay monthly child support should i put any of thay info on this form?