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Form W-4V for Hollywood Florida: What You Should Know

Form W-4V (Revised January 8, 2013) This form is very useful when you are filing with your employer. This form is called the “Voluntary Withholding” because it can be used by an individual to request certain types of exemptions from filing their income tax return as well as the amount of tax withheld from his or her Social Security and Medicare benefits. The form allows an employee to use the information on the form, such as the wage you received from your employer, to file his/her income tax return and to request certain exemptions from that return as well as from the withholding paid by his/her employer. This form is valid when you have received any government grant, reimbursement, or contract in connection with your work. For the Form W-4V (Rev. February 2018) click here Form W-4V-G, Voluntary Withholding, Request that You Do Not Itemize With Your Tax Return This form is used by you if you have a wage deduction in addition to a wage payment or receive any payments that are designated as deductions on an income tax return (such as a state or local tax deduction, charitable gift deduction, earned wage deduction, and so on). The Form W-4V-G is also used when you are claiming an exemption for your employment with a governmental agency or when you are asking the government to pay you certain amounts as a condition of employment. The Form W-4V-G is used when you are not itemizing deductions on your federal income tax return. The Form W-4V-G cannot be filled out when you work for a private company. Form W-4P, Voluntary Withholding Pays of Federal Unemployment Tax Also referred to as Form W-3P, this form is used if you are claiming an exemption from federal unemployment tax. Form W-3P allows you to deduct your portion of the federal unemployment tax in lieu of paying federal income tax on your wages and salary by voluntarily electing to pay a specified amount of federal unemployment tax on the amount of any salary, wages, tips, or otherwise compensation to be paid after deductions and credits. For more information about unemployment tax, including whether you are claiming an exemption from this tax, visit this link. Please note: When you complete Form W-4P, you indicate which federal agency that is the one you are not claiming an exemption from unemployment taxes on.

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