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Use this guide when filling out a W-4. ... Enter “$12,550 ” if you are single or married filing separately. ... Step 3 is for claiming dependents and Step 4 is for other optional adjustments.
Prepare to have the IRS treat your income like it's taking taxes from a single person with zero withholding allowances. ... fill out a W-4 form, you'll need to complete the personal allowances ...
Form W-4 (officially, the "Employee's Withholding Allowance Certificate") [1] is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer. The W-4 form tells the employer the correct amount of federal tax to withhold from an employee ...
When filling out a Form W-4 an employee calculates the number of Form W-4 allowances to claim based on his or her expected tax filing situation for the year. The amount of money withheld as federal income tax is reduced for each Form W-4 allowance taken. No interest is paid on over-withholding, but penalties might be imposed for under-withholding.
For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).
Once you have completed any applicable worksheets, you can begin filling out the W-4 form with your tax withholding choices that you will give to your employer. (Note: You cannot fill out a W-4 ...