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Publication 505Contents(Rev. Dec. 94)Introduction ............................................1Tax Law Changes ...................................2Changes Effective in 1994 .....................2Changes

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What is tax withholding for?

Tax withholding is a method by which employers deduct and withhold a certain amount of an employee's income tax from their wages or salary. This amount is then remitted to the government on behalf of the employee.

Who is required to file tax withholding for?

Employers are required to file tax withholding for their employees. Additionally, self-employed individuals may be required to make estimated tax payments to fulfill their tax obligations.

How to fill out tax withholding for?

To fill out tax withholding forms, employers need to collect relevant information from employees, such as their name, social security number, filing status, and the number of allowances claimed. The employer then uses this information to calculate the appropriate amount of tax to withhold from each employee's wages.

What is the purpose of tax withholding for?

The purpose of tax withholding is to ensure that individuals and businesses meet their tax obligations throughout the year rather than paying the entire tax liability in one lump sum at the end of the year. It helps to distribute the tax burden evenly and aids in the consistent collection of revenue for the government.

What information must be reported on tax withholding for?

Tax withholding forms typically require information such as the employee's name, social security number, address, filing status, and the number of allowances claimed. Additionally, the forms may also include details about any additional withholding amounts, exemptions, or special calculations.

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