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This is the IRS form that determines how much federal withholding tax will be deducted from your paycheck, at least from your salary. You complete it when you are hired, and in the form you list your withholding allowance(s). If you do not complete the form, your status for federal tax withholding will default to single and you will claim no allowances. You want to submit a new Form W-4 whenever your personal or financial situation changes. Usually your company follows the tax rates of supplemental income rather than your W-4 rate.