Good Morning Gentle Readers,
The 2006 W-4 form is now available for download. It's a slick little fill-in-the-blank form that you can complete online or on your own computer, print out, and then hand over to your HR or payroll department. You'll need software that can read .PDF files such as Adobe Acrobat. There's a link down there on the left side under Useful Downloads that will get you that program for free. If you want a W-4 in Español go here. Although some employers require a new one annually, in general you aren't required to complete a new W-4 form unless you change jobs, marital status, or add or lose dependents. And finally (big breath, because I'm talking really fast) if you just can't come up with the right numbers the hard way, try this IRS calculator that will walk you through the process. It'll go easier for you if you are already well versed in tax preparation (yes, that was a snarky comment).
TWC recommends that employers use the same download OR keep the downloaded .PDF file handy so you can print it on demand. But if you prefer to have a stack of these things laying around you can order pads of 50 W-4 forms for around twenty-five bucks here.
Employers are no longer required to submit questionable W-4 forms to IRS. Questionable W-4's included W-4's claiming exempt, claiming tax protester status, claiming war tax resistance status, or claiming 10 or more dependents, the so called magic number. This doesn't necessarily mean every state has conformed, you may still be required to submit questionable W-4 forms to state tax agencies.
Oh yeah, and IRS plans to get tough with taxpayers (and their employers) with inadequate amounts of income tax withheld. Rest easy, so long as your taxes are paid by April 15 you'll be off radar. IRS is only looking at people who owe tax and don't pay to see if taxes withheld were clearly too little. More info here.
BTW, this is the 500th post at TWC, thank you all.
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