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Publication 505 (Rev. Dec. 96) Cat. No. 15008E Department of the Treasury Internal Revenue Serviceman Withholding and Estimated Malcontents Introduction ...............................................1Important

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What is tax withholding for?

Tax withholding is a method of collecting income tax from individuals' wages, salaries, or other forms of compensation. It ensures that the government receives a portion of an individual's income tax liability throughout the year.

Who is required to file tax withholding for?

Employers are required to file tax withholding for their employees. Additionally, certain individuals with significant non-wage income, such as self-employed individuals, may need to file estimated tax withholding.

How to fill out tax withholding for?

To fill out tax withholding, employers must provide their employees with a W-4 form, which the employees need to complete accurately. The form includes information about the employee's filing status, number of allowances, and any additional withholdings. This information is then used by the employer to calculate and withhold the appropriate amount of taxes from the employee's wages.

What is the purpose of tax withholding for?

The purpose of tax withholding is to ensure regular and timely collection of income taxes from individuals' wages. It helps individuals meet their tax obligations throughout the year and prevents large tax liabilities from accruing at the end of the year.

What information must be reported on tax withholding for?

Tax withholding forms typically require information such as the employee's name, social security number, filing status, allowances claimed, and any additional withholdings. Employers also report their own information, such as their employer identification number and the total wages paid to the employee.

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