Many tax forms need complicated calculations and table references to tally a key value, or may need extra information that is only relevant in some cases. Rather than incorporating the calculations into the primary form, they are oftentimes offloaded on a several worksheet. The worksheet may be merged into the filing package, or may only be a tool for the filer to figure out the value, but without requiring the worksheet to be filed.
As an instance, in the USA, income tax is hold from the payments made by employers to employees. If taxes are significantly underwithheld, there is a penalty to the employee at the end of the year, and if they are overpayment, the employee gets a refund for the overpayment of taxes. There is a base formula for estimating the taxes that need to be paid, but certain tax elements may lead it to be wrong, like dependents, tax discounts, or income from other sources.
The W-4 form authorizes the employee to opt an exemption level to reduce the tax %factoring (to avoid overpayment), or assign an additional amount above the basic amount (to avoid underpayment). The form arrive with two worksheets, 1 to tally discounts, and another to tally the outcome of other income (second job, wife job). The bottom numeric in each worksheet is utilized for fill out two if the lines in the primary W4 form. The primary form is filed with the employer, and the worksheets are disposed or held by the employee.
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