Add Image To W-4 Form 2018

Why Do I Need to Fill Out W-4 Form

It is very likely that you will be required to complete and submit a Form W4 in case you are legally employed in the United States. Let’s figure out what is this document for.

The form is an important Internal Revenue Service paper that has to be filled out by an employee and provided to an employer. Usually, it is used by your hirer or contractor to withhold the particular amount of income tax from your salary. The purpose of W 4 is to help a superior to calculate the amount of the wage to be taxed from every worker who decides to complete the template. That’s why the paper has to be submitted and sent to your hirer, not the IRS directly.

Each hired individual is required to create and fill in a new sample once a year. Also, you are obliged to complete it anytime your financial or personal situation changes. Another useful feature of this document is that you are able to claim allowances. You are allowed to claim exempt on your sample which means that no taxes can be taken out of your wage at the end of the calendar year. By knowing all the necessary information about allowances and exemptions, you can fill out your W4 2018 form correctly and save your earnings.

Allowances and Exemptions: What Do I Need to Know

Of course not everyone is eligible to claim an exemption or allowance. Only certain groups of individuals that meet established requirement can be included in this specific category. For instance, you are allowed to declare an exemption from tax withholding in case you had no tax liability in 2017 and expect to get a refund of income withholdings in 2018. However, it does not work if:

  • You are a working student.
  • Your income is equal to or more than $950.
  • 1/3 or more of the $950 were received from activities which are not related to your direct employment.

How Do I Report that I’m Exempt for Tax Purposes

Carefully read the instructions on Page 1 before completing the blank. After you ensure that you are eligible to claim exempt on the W-4 Form, you need to report this. Leave the Box 5 empty and write your status in the Box 7.

Fill in your blank sample online and report your status without effort. Electronic form W 4 2018 can be completed anytime and anywhere, on any Internet-connected device. It can also be instantly forwarded to the recipient via Email, Fax or even SMS. Easily manage your documents electronically and forget about paperwork hassles.