The purpose of Tax Form W-4 is simple ? it is used by your employer to withhold the proper amount of federal income tax from your paycheck. The IRS recommends that employees submit a new W-4 tax form each year, or any time their personal or financial situation changes. Of course, this is required upon being hired.How many allowances to claim on Form W-4?
You can claim anywhere between 0 and 3 allowances on the 2019 W4 IRS form, depending on what you're eligible for. Generally, the more allowances you claim, the less tax will be withheld from each paycheck.When did W4 change?
Completing the W-4 Form. The IRS says you must change W-4 forms within 10 days of any event that alters your filing status or the number of allowances you can claim. Get a blank W-4 form from your employer and use the worksheet to determine the number of withholding allowances.