The IRS W-4 is a tax form an employer uses to determine the amount of federal income tax they need to withhold from your paycheck. When you are hired, you are asked to fill out a W-4 and provider information on the number of exemptions or allowances you plan to claim each payday.

You need to fill out this form accurately as any mistake could affect your tax bill or refund. Also, note that you need to submit a new W-4 form if your financial or personal situation changes in 2020.

There are exemptions in the W-4 form. You’ll find the personal exemptions listed as they affect what your employer needs put aside each time you are paid. The more allowances you claim, the less tax is withheld from your paycheck. However, fewer allowances translate into a considerable withholding amount, which could lead to a refund.

Paso 4(b). Anote en este paso la cantidad proveniente de la línea
5 de la Hoja de Trabajo para Deducciones si espera reclamar
otras deducciones que no sean la deducción estándar básica en su
declaración de impuestos de 2020 y desea reducir su retención
para contabilizar estas deducciones. Esto incluye sus deducciones
detalladas y otras deducciones, como los intereses de préstamos
estudiantiles y las contribuciones a los arreglos IRA.
2020 Form W-4(SP) - Internal Revenue Service