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 CT 399 I  Department of Taxation and Finance 2014

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My name is Miranda Chuck, and I'm a CPA, and we're going to talk about the IRS w-4 form for allowances now this form is typically the form you fill out when you first start a job, and you can revise it any time and one of the main differences between this form and other IRS forms is that this one goes directly to your employer and what you're doing is telling the employer how much of the salary you negotiated with your boss that you want them to withhold for you and we mitt to the IRS on your behalf the goal is to have at least 90 percent of the taxes that you're going to owe at the end of the year withheld during the year much less, and you might be subject to penalties and taxes much more, and you're just giving the government an interest-free loan instead of having that money work for you now the form itself is rather straightforward just your name address social security number but one of the lines that the little trickier is line five which talks about the total number of allowanc

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