BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following forms is meant to determine your allowances / withholdings / deductions and affects your FEDERAL and STATE income tax %? Hint:YOU fill it out
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W2 Form
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W4 Form
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1040EZ
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I9 Form
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Explanation:
Detailed explanation-1: -The W-4 Form is an IRS form that you complete to let your employer know how much money to withhold from your paycheck for federal taxes.
Detailed explanation-2: -The W-4 form tells the employer the amount of tax to withhold from an employee’s paycheck based on their marital status, number of allowances and dependents, and other factors. The W-4 is also called an Employee’s Withholding Allowance Certificate. 1
Detailed explanation-3: -Complete Form W-4 so that your employer can withhold the correct federal income tax from your pay. Consider completing a new Form W-4 each year and when your personal or financial situation changes.
There is 1 question to complete.