HR PEO Blog

W-4

Monday, 17 December 2007 17:00

2008 W-4 Form

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IRS releases the new 2008 W-4 form

The IRS has released the 2008 version of the W-4 form.  The W-4 form should be filled out by all newly hired employees in 2008 and any current employees wanting to make changes to their withholding allowances or marital status. For a copy of the new form go to http://www.irs.gov/pub/irs-pdf/fw4.pdf.

Wednesday, 07 March 2007 17:00

The W-4 Form

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W-4 is one of the most common forms Americans fill out. Here are a few things to remember when completing a W-4.

A W-4 is an IRS form that determines the federal tax that will be withheld from an employee’s paycheck. Filling out a W-4 is one of the first forms an employee will complete when hired. 

When filling out a W-4, make sure the information you write is correct and clear. 

The most important lines for an employee to complete are lines 1-7 of the “Employee’s Withholding Allowance Certificate.”

Always remember to sign your completed W-4.

Always remember to check the appropriate box for filing single or married. 

If you have questions about your withholdings- or want to verify you are withholding the correct amount, you can visit www.irs.gov and use the IRS withholding Calculator

If you are exempt from taxes- make sure to write EXEMPT on line 7.

Any incomplete W-4’s will automatically be defaulted to a tax status of single and 0 withholdings, the highest amount of tax will be deducted from your income.

Colorado requires all employers to report all new employees within 20 days of their hire date. StaffScapes sends copies of the employee’s W-4 to the Colorado State Directory of New Hires, so it is important that all W-4’s are completed accurately.

Thursday, 08 January 2009 17:00

Claiming “Exempt" on your Form W-4

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An exempt status is good for only one year.

If you have filed “exempt” on your 2008 W-4, you are required by the Internal Revenue Service to complete a new W-4 for 2009. You must give your employer a new Form W-4 by February 15th to continue your exemption. If by February 15th your employer has not received a new Form W-4, the filing status will be defaulted to single with 0 withholding allowances.

 If you claim exempt, but later your situation changes so that you will have to pay income tax, you must file a new Form W-4 with your employer within 10 days after the change. Your claim of exempt status may be reviewed by the IRS. If you have any question  please contact StaffScapes Payroll Department at (303) 466-7864

For additional information please visit http://www.irs.gov/

Thursday, 20 January 2011 17:00

2011 W-4

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Have you updated your employee applications for new hires?  The new 2011 W-4 has been released by the IRS.  Once the employee completes the W-4 upon hire, the only other time this form would be applicable is if the employee would like to make changes to their withholding election.  When the employees are having their taxes prepared is a great time for them to ask their tax advisor for be submitted for their W-4 withholding.  Select here for the form 2011 W-4.