IRS Form W-4P

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Form W-4P

The IRS Form W-4P is an income tax withholding form that is used by pensioners and annuitants to determine the amount of federal income tax that should be withheld from their retirement income. It is important to note that the W-4P is separate from the W-4 form, which is used by employers to calculate the amount of taxes that should be withheld from an employee's paycheck.

The W-4P must be filled out by any individual who receives pension or annuity payments from a qualified government or civilian retirement plan. It requires taxpayers to provide detailed information such as their name, address, Social Security number, the type of income they receive, the amount of their Social Security benefits, and any other income they may have. It also allows the taxpayer to claim additional allowances and credits, such as the Earned Income Tax Credit and the Additional Child Tax Credit, which can reduce their tax liability.

To submit the W-4P form, you can mail it to the IRS office or file it electronically using the IRS e-file system. You can also submit the form to your payer, who is then responsible for forwarding it to the IRS.

The IRS uses the information provided on Form W-4P to calculate the amount of federal income tax to be withheld from a pension or annuity payment. The form is used to provide the IRS with information about the taxpayer's filing status, number of allowances, and any additional amount to be withheld. The information provided on the form is used to determine the amount of tax to be withheld from the taxpayer's pension or annuity payments. The taxpayer can also use the form to request a refund of any over-withheld taxes.

PDF icon Form W-4P. Download (pdf)105.3 KB