You can also decrease your withholding if you are eligible for income tax credits such as the child tax credit or credit for other dependents, or you are eligible for deductions other than the basic standard deduction, such as itemized deductions, the deduction forIRAcontributions...
dependents, and how much tax to withhold with each paycheck. The W-4 is filled out when an employee is hired or if any changes must be made to filing status or withholding. The W-2 is filled out by employers at the end of the tax year and sent to employees to input on theirtax ...
When the employee fills out aW4 tax form, the factors listed in the bullets above are detailed in the form, and based on this, federal withholding tax is calculated. If too little withholding tax is deducted throughout the year (because the W4 form was filled out incorrectly, or for anot...