W-4 Form
TaxGlossary term
Definition
An IRS form filled out by employees to tell their employer how much federal income tax to withhold from their paycheck. Adjustments should be made after major life events like marriage, having a child, or starting a second job.
Related terms
- W-2 FormA tax form employers send to employees and the IRS reporting annual wages and tax withholdings. Required to file income taxes and verify employment income.
- Withholding TaxThe portion of an employee's wages that an employer sends directly to the government as a prepayment of income tax. The amount withheld depends on income, filing status, and the W-4 form submitted to the employer.
- Tax BracketThe range of income subject to a certain income tax rate in the progressive US tax system. Higher income levels are taxed at higher rates (marginal tax rates).
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