We all know how important it is to stay organized when it comes to our finances, and one way to do so is by making sure all of our tax forms are in order. That’s why we’re excited to share with you the latest and greatest 2021 printable IRS forms W-4.
What is the W-4 Form?
The W-4 form, also known as the Employee’s Withholding Certificate, is a document that employees fill out so that their employers can withhold the correct amount of federal income tax from their paychecks. The information included on the form helps employers determine how much federal income tax should be withheld from each paycheck and sent to the IRS on behalf of the employee.
What’s New in the 2021 W-4 Form?
The IRS has made some significant changes to the W-4 form for 2021. Here are some of the key updates:
- There is no longer an allowance system.
- Instead of claiming allowances, employees will now report their expected tax deduction and credit amounts on the form.
- The form provides more guidance to help employees fill it out correctly.
How to Fill Out the W-4 Form
The new W-4 form is designed to be more straightforward and easier to fill out than previous versions. Here’s a step-by-step guide:
- Enter your personal information, including your name, address, and social security number.
- If you have multiple jobs or work in a two-income household, use the IRS Tax Withholding Estimator to determine the correct withholding amount for each job.
- Indicate if you are claiming any tax credits or deductions, such as the child tax credit or itemized deductions.
- If you have multiple jobs or a working spouse, enter the total annual amount of income from all of your jobs on line 4(c).
- If you want additional federal income tax withheld from each paycheck, enter the amount on line 4(d).
- Sign and date the form.
When to Fill Out a New W-4 Form
You should fill out a new W-4 form whenever your personal or financial situation changes. For example, you may need to update your form if you:
- Get married or divorced
- Have a new child or dependent
- Buy or sell a home
- Start a new job or leave a job
Where to Find the 2021 Printable IRS Forms W-4
You can find the latest version of the W-4 form on the official IRS website. However, we’ve made it even easier for you - simply click on the image below to download and print the 2021 W-4 form!
We hope this information helps you stay on top of your finances and make the most of your tax deductions and credits!
