Fillable Form W-4V

W-4V Form is a form used by people who are receiving Social Security benefits or other government payments to ask the payer to withhold federal income tax. Taxpayers use this when they find it more convenient than making quarterly estimated tax payments. This form is not required, and is completely voluntary on the taxpayer’s part.

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What is Form W-4V?

Form W-4V, Voluntary Withholding Request, is a form by the Internal Revenue Service (IRS), the federal tax agency of the United States, and is a type of Form W-4, Employee’s Withholding Certificate.

While you can use Form W-4 to inform your employer of your tax situation and the amount you want your employer to withhold from your paycheck, Form W-4V is for requesting to withhold federal income tax when you receive any unemployment compensation and certain federal government and other payments. Form W-4 applies to tax withholding on wages and salaries; Form W-4V applies to income government-paid income.

Moreover, Form W-4V is used to arrange automatic withholding on different types of non-wage income.

Use Form W-4V to request to withhold federal income tax for the following:

Social security benefits

Unemployment compensation including Railroad Unemployment Insurance Act (RUIA) payments.

Your social security is equivalent to Tier 1 railroad retirement benefits

Commodity credit corporation loans

Crop disaster payments under the Agricultural Act of 1949 or under Title II of the Disaster Assistance Act of 1988

Dividends and other distributions from Alaska Native Corporations to his or her shareholders

Where to get Form W-4V?

You may visit the official IRS website to download and print a blank copy of Form W-4V that you can fill out manually. For your convenience, you may electronically fill out Form W-4V using a PDF filler application, such as PDFRun.

How to fill out Form W-4V?

Form W-4V looks like a small voucher. Provide all the required information accurately and correctly to avoid any inconveniences.

Line 1 — Full Legal Name

Enter your full legal name, as it appears on your tax records, in the following format: First Name, Middle Initial, Last Name.

Line 2 — Social Security Number

Enter your nine-digit Social Security Number (SSN).

Line 3 — Home Address

Enter your complete home address, including Number, Street or Rural Route, City or Town, State, and ZIP Code.

If you live outside the United States territory, still enter your complete address.

Line 4 — Claim or Identification Number

Enter any claim or identification number you use with your payer, if applicable.

If you want to know the claim number or identification number you need to use, call the Social Security Administration at 1-800-772-1213.

Line 5

Mark the box if you want federal income tax withheld from your unemployment compensation at a rate of 10% each payment.

Line 6

Mark the box to determine the percentage rate, if you want federal income tax withheld from your Social Security benefits, Social Security equivalent Tier 1 railroad retirement benefits, Commodity Credit Corporation loans, certain crop disaster payments under the Agricultural Act of 1949 or under Title II if the Disaster Act of 1988, or other distributions from Alaska Native Corporations to its shareholders. You may select:

10%

12%

22%

Line 7

Mark the box if you want to stop withholding income tax from your payment or payments.

Your signature

Affix your signature.

Date

Enter the date you signed the form.

Where to submit Form W-4V?

Submit Form W-4V to your payer; do not send it to the IRS.

Additional Information:

Your Social Security benefits are taxable if your net income exceeds over $25,000 for a single person and $32,000 for a married couple filing together. You will be charged up to 85% of taxes from your benefits if the reported income is above the said threshold.

You are at full retirement age when you reach 65 years or older and you can get the full Social Security retirement benefits tax-free. Yet, part of your benefits may subject to taxation if you are still working. The IRS sums the values for your earnings and half your Social Security benefits. Your benefits are taxed, whenever the total exceeds the Internal Revenue Service’s income limits.

You may get in touch with the Social Security Administration to withhold your taxes from your monthly benefit checks if you are still required to pay taxes on your Social Security benefits. Note that the said benefit is only applicable to federal income taxes.

Requesting federal income tax withholding is more convenient than making quarterly estimated tax payments. Despite that, you must take note that if you have other income tax that is not subject to withholding, you must consider making estimated tax payments using Form 1040-ES, Estimated Tax for Individuals.

You can decide when income tax withholding will start by informing your payer.

Federal income tax withholding will continue until you change or stop it, or when the payments stop.

Complete a new Form W-4V if you want to stop withholding. When filling out the form, do not answer Lines 5 and 6.

You can withhold 10% from each payment only for unemployment compensation. There is no other amount or percentage rate allowed.

For government payments, you can select any of the four withholding income tax rates: 7%, 10%, 12%, and 22%.

Some government benefit payments may be non-taxable, whether entirely or partially, including Social Security income; thus, you are not required to withhold federal income tax from government payments, but you may do so voluntarily.

Consult your payer if you are not sure whether your payment is eligible for voluntary withholding or not.

If you want to withhold income tax from your Social Security benefits, complete and sign Form W-4V and return it to your local Social Security office. You may do so by mail or in person.

You may develop your own form for you to request federal income tax withholding. If a payer gives you their own form instead of Form W-4V, use that form.

Form W-4V is considered not valid you sign it. Make sure to review all the information you have provided before submitting the form to avoid any problems.

If you have questions about the financial or tax impacts your benefits could have on your tax return, you may contact the government agency that issues your payment. This will also help you determine if you are eligible for voluntary withholding.

For questions about your tax liabilities, contact the IRS at 1-800-829-3676.

Table of Contents

Fillable Form W-4V