Should employees submit Form W-4 every year?
3.8k views |
Last modified 6/3/2020 8:32:51 AM EST |
Added by 123PayStubs Team
No, employees are not required to submit Form W-4 every year. A W-4 form is an employee withholding certificate that will determine the correct amount of federal income tax to withhold from your paycheck.
Only if there's any change in the employee's withholdings, or if employees wish to claim exemption from income tax withholding, then they are required to submit Form W-4. Till then, their present form will remain in effect.
According to the IRS, it is required that employers remind their employees before December 1 each year to submit a new W-4 form if there is a change in their withholdings or will change for the next year. Current employees who don't want to make changes to their W-4 don't need a new form.
In case the employee does not submit a valid W-4 form, then their withholding will be considered as a single filer with no adjustments.