Blank IRS W-4V Template

The IRS W-4V form is a declaration that allows taxpayers to instruct their payers to withhold specific amounts of federal income tax from certain types of payments, such as social security benefits, unemployment compensation, and annuity payments. By filling out this form, individuals can manage their tax withholding more accurately, ensuring they do not face a large tax bill at the end of the year. To get started with managing your tax withholding, fill out the W-4V form by clicking the button below.

Article Guide

If you find yourself needing to adjust your tax withholding due to certain circumstances, understanding the IRS W-4V form is essential. This form provides a structured pathway for individuals to request voluntary federal income tax withholding from specific payments, like unemployment benefits or pension distributions. By completing the W-4V, you can specify the percentage or amount of tax to be withheld, ensuring that you’re not caught off guard when tax season arrives. Additionally, the form allows for adjustments based on your financial situation, giving you more control over your withholdings. Whether you're navigating through changes in income or managing multiple sources of income, knowing how to appropriately fill out the W-4V can greatly impact your financial well-being. Remember, withholding the right amount now can help you avoid surprises later, so let’s break down the key aspects that make this form a crucial part of tax planning.

Form Sample

Form	W-4V			Voluntary Withholding Request

(Rev. February 2018)			(For unemployment compensation and certain Federal Government and other payments.)
Department of the Treasury
				Go to www.irs.gov/FormW4V for the latest information.
Internal Revenue Service
Instructions					Note. For withholding on social security benefits, give or send the
Purpose of Form					completed Form W-4V to your local Social Security Administration
					office.
If you receive any government payment shown below, you may use					Line 3. If your address is outside the United States or the U.S.
Form W-4V to ask the payer to withhold federal income tax.					possessions, enter on line 3 the city, province or state, and name of the
• Unemployment compensation (including Railroad Unemployment					country. Follow the country’s practice for entering the postal code.
					Don’t abbreviate the country name.
Insurance Act (RUIA) payments).
					Line 4. Enter the claim or identification number you use with your payer.
• Social security benefits.
					For withholding from social security benefits, the claim number is the
• Social security equivalent Tier 1 railroad retirement benefits.
					social security number under which a claim is filed or benefits are paid
• Commodity Credit Corporation loans.					(for example, 123-45-6789A or 123-45-6789B6). The letter or
• Certain crop disaster payments under the Agricultural Act of 1949 or					letter/number combination suffix that follows the claim number identifies
					the type of benefit (for example, a wage earner, a spouse, or a
under Title II of the Disaster Assistance Act of 1988.
					widow(er)). The claim number may or may not be your own social
• Dividends and other distributions from Alaska Native Corporations
					security number. If you are unsure about what number to use, contact
to its shareholders.					the Social Security Administration at 1-800-772-1213 (toll-free). For
Consult your payer if you’re uncertain whether your payment is					other government payments, consult your payer for the correct claim or
eligible for voluntary withholding.					identification number format.
You aren’t required to have federal income tax withheld from these					Line 5. If you want federal income tax withheld from your
payments. Your request is voluntary.					unemployment compensation, check the box on line 5. The payer will
Note. Payers may develop their own form for you to request federal					withhold 10% from each payment.
					Line 6. If you receive any of the payments listed on line 6, check the box
income tax withholding. If a payer gives you its own form instead of
Form W-4V, use that form.					to indicate the percentage (7%, 10%, 12%, or 22%) you want withheld
Why Should I Request Withholding?					from each payment.
					Line 7. See How Do I Stop Withholding? below.
You may find that having federal income tax withheld from the listed
					Sign this form. Form W-4V is not considered valid unless you sign it.
payments is more convenient than making quarterly estimated tax

payments. However, if you have other income that isn’t subject to					When Will My Withholding Start?
withholding, consider making estimated tax payments. For more details,					Ask your payer exactly when income tax withholding will begin. The
see Form 1040-ES, Estimated Tax for Individuals.
					federal income tax withholding you choose on this form will remain in
How Much Can I Have Withheld?
					effect until you change or stop it or the payments stop.
For unemployment compensation, the payer is permitted to withhold					How Do I Change Withholding?
10% from each payment. No other percentage or amount is allowed.					If you are getting a payment other than unemployment compensation
For any other government payment listed above, you may choose to
					and want to change your withholding rate, complete a new Form W-4V.
have the payer withhold federal income tax of 7%, 10%, 12%, or 22%					Give the new form to the payer.
from each payment, but no other percentage or amount.					How Do I Stop Withholding?
What Do I Need To Do?
					If you want to stop withholding, complete a new Form W-4V. After
Complete lines 1 through 4; check one box on line 5, 6, or 7; sign Form
					completing lines 1 through 4, check the box on line 7, and sign and date
W-4V; and give it to the payer, not to the IRS.					the form; then give the new form to the payer.
				Separate here
Form	W-4V			Voluntary Withholding Request

(Rev. February 2018)		(For unemployment compensation and certain Federal Government and other payments.)						OMB No. 1545-0074
Department of the Treasury
				Give this form to your payer. Do not send it to the IRS.
Internal Revenue Service
1	Your first name and middle initial				Last name		2 Your social security number

3	Home address (number and street or rural route)				City or town	State	ZIP code

4Claim or identification number (if any) you use with your payer

I want federal income tax withheld from my unemployment compensation at a rate of 10% of each payment.

6I want federal income tax withheld from (a) my social security benefits, (b) my social security equivalent Tier 1 railroad retirement benefits, (c) my Commodity Credit Corporation loans, (d) certain crop disaster payments under the Agricultural Act of 1949 or under Title II of the Disaster Assistance Act of 1988, or (e) dividends and other distributions from Alaska Native Corporations to its shareholders, at the rate of (check one):

10%

12%

22%

I want you to stop withholding federal income tax from my payment(s).

Your signature	Date
For Privacy Act and Paperwork Reduction Act Notice, see page 2.	Cat. No. 22891V	Form W-4V (Rev. 2-2018)

Form W-4V (Rev. 2-2018)

Page 2

Privacy Act and Paperwork Reduction Act Notice

We ask for the information on Form W-4V to carry out the Internal Revenue laws of the United States. You are required to provide this information only if you wish to have federal income tax withheld from certain payments for which withholding is not required by law. If you choose to request voluntary withholding of federal income tax, you’re required by Internal Revenue Code sections 3402(p) and 6109 and their regulations to provide the information requested on this form. If you don't provide a completed form that is signed, the payer can’t withhold federal income tax from your payment. Providing false or fraudulent information may subject you to penalties.

Routine uses of this information include giving it to the Department of Justice for civil and criminal litigation, and to cities, states, the District of Columbia, and U.S. commonwealths and possessions for use in administering their tax laws. We may also disclose this information to other countries under a tax treaty, to federal and state agencies to enforce federal non-tax criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism.

You aren’t required to provide the information requested on a form

that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by Code section 6103.

The average time and expenses required to complete and file this form will vary depending on individual circumstances. For estimated averages, see the instructions for your income tax return.

If you have suggestions for making this form simpler, we would be happy to hear from you. See the instructions for your income tax return.

⇩ PDF

Document Specifications

Fact Name	Description
Purpose of W-4V	The W-4V form allows individuals to request voluntary federal income tax withholding from certain types of payments.
Eligible Payments	This form is primarily used for payments such as unemployment benefits, certain pensions, and annuities.
Filing Requirements	Taxpayers must provide the W-4V to the payer of the income for which they want tax withheld.
Withholding Rates	Individuals can choose specific percentages of withholding: 7%, 10%, 12%, or 22% based on payment type.
State-Specific Forms	Some states may have their own version of the W-4V. Example: California residents must refer to the CA Form DE 4 for state tax withholding adjustments.

Steps to Filling Out IRS W-4V

Once you have your IRS W-4V form, follow these steps to complete it accurately. Preparing the form correctly can ensure that you're choosing the right amount of federal income tax withholding from your payments.

Obtain the form: You can download the W-4V form from the IRS website or request a copy from the payer.
Personal Information: Fill in your name, address, and Social Security number at the top of the form. Make sure everything is legible.
Type of Payment: Indicate what type of payment this withholding request applies to (e.g., unemployment compensation, certain annuities, etc.).
Withholding Amount: Specify the percentage or flat amount of tax you wish to withhold. This is usually 10%, 12%, or a different rate depending on your financial situation.
Signature: Sign and date the form to certify that the information you provided is correct. This step is essential to make the form valid.
Submit the Form: Send the completed form to the appropriate payer. Ensure you check if there are any specific submission instructions provided by the payer.

After submitting your W-4V, keep a copy for your records. Monitor your payments to ensure the withholding takes effect as intended. If you need to make changes later, you can always submit a new form.

More About IRS W-4V

What is the IRS W-4V form?

The IRS W-4V form, also known as the "Voluntary Withholding Request," allows individuals to request voluntary federal income tax withholding from certain government payments. These payments can include unemployment benefits, federal pension payments, and Social Security benefits. Completing this form helps ensure that the right amount of tax is withheld, reducing the potential for a tax bill when you file your annual return.

Who should fill out the W-4V form?

The W-4V form is suitable for individuals receiving income from specific government sources who wish to have federal taxes withheld. If you are currently receiving unemployment benefits, Social Security benefits, or pension payments and would prefer to have federal income tax taken out, this form is for you. Completing the W-4V provides peace of mind and can assist in managing your tax obligations more effectively.

How do I complete the W-4V form?

Completing the W-4V form is straightforward. Begin by entering your personal information, such as your name, address, and Social Security number. Next, you will need to indicate the type of payment you are receiving by marking the appropriate box on the form. Finally, you can specify the percentage of your payment that you would like withheld for federal income tax. The options typically range from 0% to 100%, but it's essential to choose an amount that aligns with your financial situation.

Where can I obtain the W-4V form?

The W-4V form is available on the IRS website. You can download and print it directly from their official site. Additionally, some government agencies may provide copies of the form upon request, so be sure to check with the agency offering your benefits if you cannot find it online.

Is there a deadline for submitting the W-4V form?

There is no specific deadline for submitting the W-4V form, but it is best to complete it as soon as possible, especially if you want withholding to begin with your next payment. Once your form is submitted, it may take a few pay periods for the changes to take effect, so timely action can help in managing your tax withholding effectively.

Can I change my withholding percentage later?

Yes, you can change your withholding percentage at any time by submitting a new W-4V form. Life circumstances may change, impacting your tax situation, and it's perfectly acceptable to update your withholding preferences as needed. Just remember to process the new form timely to ensure it reflects in your upcoming payments.

What if I do not submit a W-4V form?

If you decide not to submit a W-4V form, the government agency making your payments may not withhold federal income tax from your benefits. This might lead to a larger tax bill when you file your return, as all income will be subject to tax without any withholding. Consider your financial situation carefully, as withholding may ultimately help you avoid a surprise tax bill.

Can I get help filling out the W-4V form?

If you find yourself uncertain about how to complete the W-4V form, help is readily available. Various resources exist, including tax professionals, community organizations, and the IRS itself. Understanding your financial details is vital, so don't hesitate to seek assistance to ensure your form is filled out correctly and aligns with your financial needs.

Common mistakes

Not Specifying the Correct Amount: One common mistake is failing to accurately indicate the amount to be withheld, whether it's 10%, 12%, 22%, or a specific dollar amount. Incorrect estimates can lead to under-withholding or over-withholding.
Choosing the Wrong Reason for Withholding: Individuals sometimes select the wrong box for their withholding reason. Each option pertains to specific situations like unemployment benefits or pension payments. It's essential to choose the right one.
Neglecting to Sign the Form: Forgetting to sign the W-4V is a simple yet significant error. Without a signature, the form is not valid, resulting in your request being ignored.
Outdated Information: Some people use an old version of the W-4V or fill it out with outdated personal information. Tax laws can change, and using old forms can cause complications.
Incorrect Personal Information: Filling in incorrect personal details such as your name, address, or social security number can lead to processing delays. Ensuring this information is accurate is crucial for a smooth withholding process.
Assuming You Don't Need to File: Some individuals mistakenly believe that if they file the W-4V, they will not need to file a tax return. Regardless of being tax-exempt, filing a return may still be necessary.
Failing to Keep Copies: Individuals often forget to keep copies of the completed W-4V for their records. This document is important for future reference and can help clarify any discrepancies later on.

Documents used along the form

The IRS W-4V form is essential for individuals who wish to request voluntary withholding from certain federal payments, such as Social Security benefits or unemployment compensation. However, it is often accompanied by other important documents that help manage tax-related situations. Below is a list of four documents typically used alongside the W-4V form, each serving its own purpose.

Form W-2 – This form reports the annual wages earned and the taxes withheld by an employer. Employees receive it at the end of the year, ensuring they have accurate information for tax preparation.
Form 1099 – A crucial tool for independent contractors, this form documents income received throughout the year. It includes various types of earnings, such as freelance work, interest, and dividend payments, and is essential for self-reporting income.
Form 1040 – As the standard federal income tax return form, the 1040 is where individuals report their annual income, deductions, and credits. It is an integral part of the tax filing process, facilitating comprehensive reporting of one’s financial status.
Form W-4 – While the W-4V focuses on voluntary withholding, the traditional W-4 is the form that employees use to tell employers how much federal tax to withhold from their paychecks. It sets the stage for overall tax planning throughout the year.

Understanding the IRS W-4V form in conjunction with these other documents empowers you to navigate your tax obligations effectively. Each form plays a unique role in ensuring that your financial records align with federal requirements, making your tax season smoother and less stressful.

Similar forms

The IRS Form W-4, also known as the Employee’s Withholding Certificate, is quite similar to the W-4V form in its purpose of managing withholdings. While the W-4 is typically used by employees to adjust their federal income tax withholding, W-4V is specifically designed for individuals who receive certain types of government payments. Both forms allow individuals to determine how much federal income tax should be withheld based on their anticipated tax situation.

The IRS Form W-2 is another relevant document. Employers use the W-2 to report wages paid to employees and the taxes withheld from those earnings. While W-4 and W-4V forms help individuals set withholding preferences at the beginning of the year, the W-2 summarizes the total income and withholding for the year, providing a comprehensive snapshot when employees file their taxes.

The 1099 series forms, specifically 1099-MISC and 1099-NEC, also share similarities with the W-4V. These forms report income earned by independent contractors and freelancers, rather than traditional employees. Like the W-4V, these forms may require individuals to estimate their tax liabilities because no federal income tax is withheld as it typically would be for employees who submit a W-4.

The IRS Form W-9 requests for Taxpayer Identification Number and Certification is akin to the W-4V in that it helps collect information necessary for tax purposes. Individuals filling out a W-9 provide their taxpayer identification number to entities that will pay them income. This ensures that accurate tax documents, such as 1099s, can be prepared later.

The IRS Form 1040 is another essential tax document that relates to the W-4V. The 1040 is the main form used for individual income tax filing. Both forms play key roles in determining and reporting tax liabilities. The W-4V helps estimate withholdings throughout the year, whereas the 1040 finalizes the tax obligation when filing for the year.

Another document, the IRS Form 4868, provides an extension request for filing individual income tax returns. While not directly related to withholding, individuals who expect to owe taxes may want to ensure they are not under-withheld, as indicated on the W-4V. Both forms serve proactive roles in managing tax responsibilities and avoiding possible penalties.

The IRS Form 8888, which allows for the direct deposit of tax refunds, can also relate indirectly to W-4V. While the W-4V determines withholding for government payments, Form 8888 specifies how a taxpayer wants their refund, including potential allocations to various accounts. One form assists with income management, while the other influences post-filing financial decisions.

State-level withholding forms are another relevant category. Many states have their own versions of a withholding certificate similar to the federal W-4. For example, a state W-4 form allows taxpayers to set up appropriate withholding levels for state income taxes, akin to the function of the W-4V for federal payments. Each form ensures compliance with tax obligations at different government levels.

Lastly, the IRS Form 4506-T allows individuals to request a transcript of their tax return. While it differs from the W-4V in function, it can provide historical insights into one’s income and withholdings. Understanding previous tax situations can help individuals make more informed decisions on future withholding through the W-4V.

Dos and Don'ts

When filling out the IRS W-4V form, it's important to be thorough and accurate. Here are some essential tips on what to do and what to avoid:

Do
Do
Do
Do
Don't
Don't

Misconceptions

The IRS W-4V form is used to request voluntary withholding for certain types of payments, such as pensions and Social Security benefits. Many people have misconceptions about this form that can lead to confusion. Here are eight common misconceptions explained.

Only employees need to fill out the W-4V. Many believe this form is limited to employees, but it’s actually applicable for various types of payments, including pensions and unemployment benefits.

The W-4V is for federal tax withholding only. Some think it pertains strictly to federal taxes. It can also be used for state tax withholding, depending on the state’s rules and regulations.

Filling out the W-4V means an individual will not owe taxes. This form requests withholding, but it does not eliminate tax liability. Individuals may still owe taxes depending on their total income.

Once the W-4V is submitted, the withholding amount cannot be changed. People often think the withholding amount is fixed. However, individuals can submit a new W-4V any time to adjust their withholding preferences.

The W-4V guarantees a refund. Many believe that using the W-4V will ensure they receive a tax refund. While withholding may lead to a refund, it depends on total income and tax liability for the year.

The W-4V needs to be submitted every year. There is a misconception that this form must be renewed annually. Once it is submitted, it remains in effect until a new form is provided or until payments stop.

It only applies to Social Security benefits. While it is commonly associated with Social Security, the W-4V is also used for other payments, including retirement distributions and annuities.

Submitting the W-4V will automatically ensure correct withholding. Some assume that just because they submitted the form, the issue is resolved. It requires ongoing monitoring to ensure withholding aligns with their financial circumstances.

Understanding these misconceptions can help individuals make informed decisions regarding their tax withholding and financial planning.

Key takeaways

When it comes to managing your tax withholding, the IRS W-4V form is a useful tool. Here are some essential points to remember:

The W-4V form is used to request that federal income tax be withheld from certain government payments.

This form is often used for unemployment benefits, Social Security benefits, and other types of payments.

To complete the form, you'll need to provide your name, address, and Social Security number.

You can choose how much tax to withhold: 10%, 12%, or 22% of your payment.

It’s important to fill out the form accurately to avoid any tax surprises later.

Once completed, submit the W-4V to the agency or payer making the payments.

After submitting, check back with the payer to ensure the requested withholding is applied.

You can revise your W-4V at any time if your financial situation changes.

Keeping a copy of the form for your records is always a good practice.

If you have questions about your specific situation, consider consulting a tax professional.

By understanding the purpose and process surrounding the W-4V form, you can better manage your tax obligations and avoid potential pitfalls.