Claiming exemption on your W-4 allows you to receive more money from each paycheck because the federal income taxes are not withheld. If your income situation has not changed at all since the prior year, and you had no tax liability for that year, you will most likely have no current-yea...
Last, many of the same items are collected across both forms. Each call for a TIN, name, and related tax information. However, the nature of the recipient are very different. A W-4 will request information such as the taxpayer filing status (i.e. is the taxpayer married?).24Alternativel...
If you think you might be exempt, you have toupdate Form W-4to indicate that your employer shouldn’t deduct any withholding tax. Your exempt status will only be valid for the tax year in which the form was submit to the employer. If you want your exemption to last another tax year, ...
The IRS Form W-4 is also known as Employee’s Withholding Allowance Certificate. This form requires employee information that includes their Social Security number, their home address, and marital status. Fundamentally, it needs the employees’ personal information. It is important to disclose how m...
I have been asked to sign a W-9 form before agreeing on a contract that would specify what money I would receive for my services. This seems highly unusual to me. Am I right in feeling that the cart is being put before the horse? On many occasions in the past I have been given a...