What is a W4 Form?
Anytime an organization wishes to add a new member of staff to its payroll; there are various documents this member needs to fill out and sign. Form W-4 needs completed by all new employees.
Fundamentally, the purpose of an Employee’s Withholding Allowance Certificate or a W-4 form is to ensure that the correct amount of federal income tax is withheld from employees’ paychecks each pay period. There is no limit to the number of allowances claimed; however, more allowances claimed by employees means less federal income tax withheld.
The W-4 has three sections, namely;
- Personal allowance worksheet – this section guides the employee to compute the federal tax allowances.
- Employee Withholding Allowance Certificate – This is a section that asks for an employees’ name, social security number, address, number of allowances and any additional taxes an employee would wish withheld from their pay.
- Deductions and adjustment worksheet – This section is only significant for employees who want to claim itemized adjustments or deductions to their income.
Benefits of Form W4 Signed Online
A lack of signature definitely makes a W-4 form invalid; therefore, have it signed before being part of a company. Nowadays, federal documents like W-4 can be completed and signed electronically, as long as the procedures for valid e-signatures are followed.
First, e-signing W-4 forms bring about automation and onboard new hires from any location. Companies do not have to wait for days or weeks for employees to sign critical documents such as W-4, which easily sign via the use of E-signature. Secondly, signing form W4 with an electronic signature creates a standard of efficiency. Thirdly, W-4 forms signed electronically are not prone to damage or misplacements and are easily retrieved when needed.
So, make a change in your hiring process today. eSign Genie will provide you with a legally binding e-signature solution that will ease the work of your HR department. Access all new employment forms and other business templates from the eSign Genie’s library, simplifying the whole process. Of course, it is our goal to save you time and money by signing these kinds of forms online.
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