2013 Form W-4 Issued by IRS
Author: Rena Pirsos, Brightmine Legal Editor
The IRS has released the 2013 Form W-4, Employee's Withholding Allowance Certificate. Employers use to this form to determine the amount of federal income taxes to withhold from employees' pay. If an employee fails to provide the form on the first day of work, the employer must withhold for that employee as if he or she were single and claiming zero withholding allowances until he or she submits the form.
Employers may wish to remind employees to review their withholding and fill out and submit a new Form W-4 to the payroll department if necessary. Some examples of employees who may need to submit a revised Form W-4 include individuals and couples with multiple jobs, employees who are expecting or who have just had a child, those getting married or divorced, those buying a new home, and those who typically have a balance due or large tax refund at the end of the year.
In addition, employees who claimed exempt status in 2012 and wish to continue their exemption for 2013 must complete and submit a new form by February 15, 2013. If an employee whose exemption expires on February 15 does not submit a new form, the employer should withhold based on the last Form W-4 on file for the employee that did not claim exemption from withholding.
Employees may not claim exempt status in 2013 if:
- Their income exceeds $1,000 (was $950 in 2012) and includes more than $350 (was $300 in 2012) in unearned income (e.g., interest and dividends); and
- They can be claimed as a dependent on another individual's tax return.
Additional Resources
Payroll > Withholding Taxes > Determining the Amount of Federal Income Tax Withholding