Asked by Emily Yannatone on May 11, 2024
Verified
Form W-4 is a form authorizing employers to withhold a portion of employee earnings for payment of an employee's federal income taxes.
Form W-4
A U.S. tax form used by employees to indicate their tax situation to their employer, such as marital status and allowances, to determine withholding tax.
Federal Income Taxes
Taxes levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.
- Detail the taxation stipulations concerning payroll taxes and federal income taxes that employers are required to adhere to.
Verified Answer
AF
Aidil FitriMay 16, 2024
Final Answer :
True
Explanation :
This is a correct statement. Form W-4 is a form that employees complete to indicate how much federal income tax should be withheld from their paycheck.
Learning Objectives
- Detail the taxation stipulations concerning payroll taxes and federal income taxes that employers are required to adhere to.