W-4 (Form W-4)
Employee's Withholding Certificate that tells your employer how much federal income tax to withhold from your paycheck.
Form W-4 is an IRS form that employees fill out to tell their employer how much federal income tax to withhold from each paycheck. The form accounts for filing status, multiple jobs, dependents, other income, deductions, and extra withholding. You should update your W-4 whenever you experience major life changes such as marriage, having a child, or starting a new job.
Related Terms
Withholding
The amount of federal and state income tax your employer deducts from each paycheck and sends to the IRS on your behalf throughout the year.
W-2
A tax form employers send to employees each year reporting wages earned and taxes withheld, including federal income tax, Social Security, and Medicare.
Filing Status
Your tax classification based on marital and family situation — Single, Married Filing Jointly, Married Filing Separately, Head of Household, or Qualifying Surviving Spouse.
Pay-As-You-Go (PAYG)
The US tax system requires taxes to be paid throughout the year as income is earned, either through employer withholding or quarterly estimated tax payments.