A W-4 is a form which informs the employer how much tax to withhold the employees’ paychecks. The employer will take those withholdings and pay the Internal Revenue Service (IRS) on the behalf of the employee. At the end of the year, the employee will receive a W-2 from the employer showing how much has been withheld from each paycheck throughout the year.

In case of more money being withheld, the employee will receive a refund from the IRS. In the unlikely case of less money been withheld, the employee will have to pay the difference to the IRS when the employee files their taxes. Therefore, the W-4 is also known as the Employee’s Withholding Allowance Certificate.

It is important to learn about this form because being careful while filling W-4 form will make sure that one never pays more than required and gets back any due money. One must always be careful to complete a new form W-4 each year and especially when a person’s personal or financial situation changes.

So, the big question is who needs to fill out the W-4 Form 2019?

People Who Needs to Fill Form W-4

W-4 form seems to be difficult. However, it is very simple to fill out the forms. All you need to know that when and who should fill this form.  

The W-4 form has a clause which states that you would have to fill it out under various circumstances including any major changes in terms of your financial status as well other circumstances, which are summarized as below:

• When you buy a house or any real estate
• When a child is born in your household
• When you get married or divorced
• When your salary or wage changes substantially
• When you receive a dividend income
• When you or your spouse freelance
• When you only work part of the year

The main aim of this form is to facilitate employees, hence the W-4 form 2019 provides information that you can utilise to calculate and come up to the appropriate number or count of allowances that one must and is supposed to claim. The W-4 form 2019 includes a series of various worksheets that must be filled by the employees. You must report your total allowances and additional withholding amounts on the actual form. Further, the step that must be followed is to tear off this certificate and provide it to your employer who can further take care of taxes from your end.

Conclusion

All new employees or existing employees qualifying the above situation has to fill out the W-4 form. However, failing to fill this form W-4 will turn into a big tax implications. You can also get in trouble if you do not include the accurate amount of income. This is why you need to be careful while filling this form W-4 2019 is very beneficial for both employer as well as employees as it gives your and your employer how much federal income tax to withhold from your paychecks.