Printable W-4 Form For 2022 – 2022 W4 Form – The Internal Revenue Service (IRS) provides the W4 form which is a form that is used to record taxes. This document is called the “Employee’s Withholding Certificate”. It provides employees with information about how much tax they must withhold from their pay checks. This form is used by employers in order to report taxable income to IRS on behalf their employees.
The employee needs to provide personal information. This includes full name as well as address and Social Security Number (SSN). This is because the tax withheld is used to pay the annual income tax bill, which is filed each year for tax return purposes.
Employees are not required to complete a new form of W4 each year, as long as they work for the same employer. If they’ve recently experienced significant life events that affect their tax situation, it could be necessary to amend the form of W4.
W4 Form Major Changes
Printable W-4 Form For 2022 – The W4 form was given an overhaul in the year 2020. Here’s a rundown of how the pre-2020 adjustment form appeared to look:
- It states the number of allowances that are claimed;
- It shows the tax amount withheld from a worker’s pay.
- The taxpayer is able to utilize separate worksheets to calculate the allowances amount that are viewed as burdensome.
It was originally seven sections, but it is now divided into five sections only, with three sections being the main sections. The essentials stayed the same, however, including the taxpayer’s personal information information.
A majority of people considered the new form to be simpler to comprehend, mostly due to the purpose of the upgrade. Taxpayers only have to complete sections that pertain to their particular circumstances. The new version of W4 permits taxpayers to claim the exemption status, assuming that eligibility criteria are fulfilled.
How to Complete the New W4 Form?
Printable W-4 Form For 2022 – Here are five steps to be performed to complete the form W4:
- Step 1 – Input the taxpayer’s personal identification information, including name address, SSN and the status of filing (single married, or head of household).
- Step 2 – Indicating the circumstances that allow the taxpayers have to pay tax less or more than their regular tax rate like their employment situation (freelance or second job) or other factors like spouse’s earnings.
- Step 3 – Consideration of dependents of taxpayers, such as children.
- Step 4 – This section is completed by the tax payer at the discretion of the taxpayer. It permits them to indicate other reasons for withholding taxes more or less than the normal amount. For example, they might make passive income from rental properties or investments which increase their tax-deductible annual income as well as the amount of tax owed.
- Step 5 – Putting in the taxpayer’s signature.
The above five steps provide taxpayers with information about the process of completing the form W4. Once the changes were made, the taxpayers should be able understand the form more clearly so that they are able to fill out the form with more accuracy and accurately report the tax withheld.