What Is Revised W-4 Form Online?

It’s well known, that in the United States starting a new job is accompanied by preparing documentation for the Internal Revenue Service. Every employee, who is hired not as an independent contractor or a freelancer has to fill an online W-4 2018. The formal name of this document is the Employee’s Withholding Allowance Certificate. It is used by employers in order to determine how much income tax to withhold from their employee’s income. W-4 form is also needed to indicate personal information such as marital status.

Because of the new tax law established in 2018, the W-4 form was revised. The IRS released an updated version of withholding tables with significant changes, which reflect the new rates. Here are the most important updates:

• Now, you can get one of the following marital statuses: married, divorced, or a head of household.
• A number of dependents has changed. A child tax credit is increased from $1,000 to $2,000. The plan implies a $300 credit for each non-child dependent or parent for five years.
• Your spouse influences your allowances.

In addition, those who have a type of income other, than wages, salary or compensation for work have to specify the amount of taxes, that should be withheld as an extra factor.

Note, that a W-4 Form should be submitted up to February 15 for the year of exemption. In case you want to claim exemption from all withholding, you must upgrade information in this document every year. 2017 version is not effective for the wages, that are paid after February 28. However, IRS allows using these templates within 30 days after the latest version was released.

You may claim exemptions from all withholding in the following cases:

• you are going to be refunded of taxes withheld for the previous year
• you want to be free of tax liability in 2018.

Tips to Fill New W-4 Form Online

Since the online W-4 2018 form is available on the website, you may easily complete it just using an internet connected device. The template includes four pages with general instruction and fillable fields, which should be filled with the following information:

1. Personal data;
2. Number of allowances claimed;
3. Additional amount to be withheld (if any);
4. All calculated deductions and adjustments;

The sample is printable, so you can fill it by hand and send it by mail, if needed. It is very important to specify only true and accurate figures. Otherwise, you may encounter a bunch of penalties.