What is the purpose of W-4 Form 2018?
The purpose of the W-4 Form for the year 2018 is to provide your employer with information regarding the amount of federal income tax to withhold from your paycheck. The form is used to determine the correct amount of income tax that should be withheld based on your filing status, number of dependents, and any additional withholding allowances you may claim.
By accurately completing the W-4 Form, you are able to ensure that the appropriate amount of federal income tax is withheld from your earnings throughout the year. This helps to avoid any potential under or overpayment of taxes when you file your income tax return at the end of the year.
The W-4 Form 2018 provides step-by-step instructions on how to fill it out, allowing you to calculate the correct withholding amount based on your personal situation. It is important to regularly review and update your W-4 Form whenever there are changes in your employment status, marital status, or if you have changes in the number of dependents.
Overall, the purpose of the W-4 Form 2018 is to ensure that you have the correct amount of federal income tax withheld from your paycheck, leading to a more accurate and streamlined tax filing process at the end of the year.