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Video instructions and help with filling out and completing irs form w4v 2021
How to properly correct your form w-4 2021 hello you got mister in here Smith and every year we want to hit you with a w-4 video to show you the proper way to corrector w-4 withholdings and at the same time educate you on how to go about doing it the right way and build out on the road how to properly correct your form w-4 2021 using the IRS withholding calculator hello you got mister in the 10 Smith and every year we like to hit you with the w-4 and the proper way to correct it and what to do with it but this time we're going to use the w-4 calculator it's been made available by the IRS so the withholding calculator they put you in a position to find out what your number is using the calculator versus the worksheet but one is more accurate and for two it just eliminates the process of filling out the worksheet so that you know exactly what to put in and how it will affect you so let's go ahead and slide over to the withholding calculator as you can see it's been provided by the IRS the 2021 withholding calculator all right you guys so yes this calculator is now more preferred by the IRS okay and then as I stated it's going to give you a number at the end for you to put on your form so let's dive right in in this example we are going to do a person single with no kids in one job okay so it says what balance that is will you use on your 2021 income tax return so we're going to select single the second question says can someone else claim you as a dependent on his or her tax return and the answer is no now as you can see at the bottom there are five pages to this form so let's make sure you complete each and every page so here is page number two it asks you to select the total number of jobs in which you are currently or will be employed in a military retirement pay or taxable pensions as an additional separate job in this example we only have one job okay and each individual is to fill this out then it tells you to check one of these boxes if this is your situation okay if you held a job this year but are no longer employed in that job if you contribute to a tax deferred retirement plan such as a 401k this year you contribute to a cafeteria or other pre-tax plan such as for health insurance this year or you received a scholarship or fellowship grant this year that must be included in gross income where you are going to leave all of those like for this example Nexus is to select the number of dependents you will claim on your tax return and again single.