"IRS Form W-4... What is that?!?"
Hey Taxpayers, Tiffany Gonzalez CPA is back with another great installment of "What is that?!?" Where we bring you financial terms and topics you may have heard, but we make them super easy to understand.
Today we are talking about the IRS Form W-4, or the Employee Withholding Certificate. This form tells your employer exactly how much tax to withhold and send to the IRS per paycheck.
This form is given to you when you start a new job or needs to be updated when you have a major life change.
Filling out this form incorrectly can have major tax implications, either withholding more money than necessary or causing a large tax bill.
You do not want to get this wrong!
Tune in and get your financial I.Q. up!
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