Hints: Federal Tax Withholding Form and Your Pension Check

[Pages:2]Hints: Federal Tax Withholding Form and Your Pension Check

ACERA can withhold federal income taxes from your monthly retirement allowance check. W-4P is the form you use to tell ACERA how much to withhold from your check. Here are some helpful hints for completing form W4-P for a few different withholding scenarios.

General Instructions

W-4P Form

Department of the Treasury

Withholding Certificate for Pension or Annuity Payments

OMB No. 1545-0074

2016

1.

Always fiFlolrminWyo-u4rPfirst and last

name, home address, and city, Department of the Treasury Internal Revenue Service

Internal Revenue Service

Withholding Certificate for Purpose. Form W-4P is for U.S. citizens, resident aliens, or their estates Pension or Annuity Payments who are recipients of pensions, annuities (including commercial annuities),

and certain other deferred compensation. Use Form W-4P to tell payers the correct amount of federal income tax to withhold from your payment(s). You also may use Form W-4P to choose (a) not to have any federal income tax withheld from the payment (except for eligible rollover distributions or

OMB No. 1545-0074

What do I need to do? Complete lines A through G of the Personal

2016 Allowances Worksheet. Use the additional worksheets on page 2 to

further adjust your withholding allowances for itemized deductions, adjustments to income, any additional standard deduction, certain credits, or multiple pensions/more-than-one-income situations. If you do not want any federal income tax withheld (see Purpose, earlier), you can skip the

state, and ZIP. Purpose. Form W-4P is for U.S. citizens, resident aliens, or their estates

payments to U.S. citizens delivered outside the United States or its

worksheets and go directly to the Form W-4P below.

posseWssihonast) odr o(b) Itonheaveedantaoddditioon?al Camoomuntpolfetatex wliitnhehesld.A through GSoigfntthhies fPoremr. sFoormnaWl-4P is not valid unless you sign it.

who are recipients of pensions, annuities (including commercial annuities),

or YaonuAerliloglpoibtilwoenrasoldnloevcpeeerndsdisoWtrnibwouthrioeknth,seahrsteheexepptlaa.iynUmedesnoetnistphpaegereiosad3dica,dnndiotin4op. eYnroaiouldr iwc, orksheFinuefotturmsreaotdioennvepalboaopgumteeFno2trsm.tToWh-e4IPRSanhdaistscirnesattreudctaiopnasg, eatownwIRwS.i.rgso.gvofvo/rw4p.

and certain other deferred compensation. Use Form W-4P to tell payers the previofuusrlythfileedr FaodrmjuWs-t4Pyowuillrrewmaitinhihn oeflfdecitnifgyoauldloownoat nfilecaeFsorfmor itemizIenfdormdaetiodnuacbtoiuot nansy,future developments affecting Form W-4P (such as

2. Enter only the last 4 digits of your correct amount of federal income tax to withhold from your payment(s).

W-4Pafodrj2u0s1t6m. ents to income, any additional standard dedluegcistlaiotionn,ecnaecrtteadianftecr rweedreitlesa,se it) will be posted on that page.

You also may use Form W-4P to choose (a) not to have any federal income

or multiple pensions/moPree-rtshoanna-loAnlleo-winacnocmeseWsoitrukasthioenest .(KIfeyepoufodr oyonuor trewcoarndts.)

Social Security number. tax withheld from the payment (except for eligible rollover distributions or payments to U.S. citizens delivered outside the United States or its possessions) or (b) to have an additional amount of tax withheld.

Your options depend on whether the payment is periodic, nonperiodic,

3. Leave the claim number box blank. or an eligible rollover distribution, as explained on pages 3 and 4. Your previously filed Form W-4P will remain in effect if you do not file a Form

A Eannteyr "f1e"dfeorrayol uinrsceolfmifenotaoxneweiltshehceanldcl(asimeeyoPuuarspaodseep,eenadrelniet r)., y.ou. ca. n.sk.ip.th.e . . . . . . . .

A

B

{ } worksheets? Yaonudagreosidngirleecatnldy htaovethoenlyFoonrempeWns-i4onP; obrelow.

ESntiegrn"1t"hifi:s fo?harYsmonu.oaFirneocmrommarerWiesdu-b,4hjePacvtiestoonnwolyitthovhnoaelldipdienngus;nioolrne,sasndyoyouurssigponuiste.

..

Future dev?eYloouprminceonmtes.frTomhea IsRecSonhdaspecnrseioanteordaajopbaogr eyoournspIRouSs.eg'sov for

.

.

.

.

.

.

.

.

.

B

informationpeanbsoiountoFr woramgesW(o-r4thPeatontadl oitfsaliln) isst$ru1,c5t0i0onorsl,esast. w4p.

C EInntfeor r"m1"afotiroynouarbsopuout saen. yBuftu, tyuoruemdaeyvcehlooopsemteonetnstear f"f-e0c-"tiinf ygouFoarremmWarr-ie4dPan(sduhcahveaesither a spouse who has

W-4P for 2016.

inlecogmiselastuiobjnecet ntoacwtitehdhoaldfitnegrowr emorerelethaasneoint)e wsoilulrbceeopf oinsctoemde osnubtjehcatttopawgitheh.olding. (Entering "-0-" may help

you avoid having too little tax withheld.) . . . . . . . . . . . . . . . . . . . . . . . . .

C

4.

Sign and date your form. Personal Allowances WorksDheEnetetr n(uKmebeerpof dfoeprenydoenutsr (orethecrothradn syo.u)r spouse or yourself) you will claim on your tax return . . . . .

A

Enter

"1"

for

yourself

if

no

one

else

can

claim

you

as

a

dependeEFntECnhtie.ldr "T1a."xifCyr.oeudwit.i(lilnfcil.eluadsin.hgeaadd.doitifo.hnoaul cs.heihldo.ltdaxocn.reyodui.tr).tSaxe.erePtuu.rbn.

9..72.,

C. .hild.

. Tax

C.Are.dit,.

. for

.. more

.... information.

.

.

D E

B C

? You are single and have only one pension; or

? If your total income will be less than $70,000 ($100,000 if married), enter "2" for each eligible child; then less "1" if

you have two to four eligible children or less "2" if you have five or more eligible children.

? You are married, have only one pension, and your?sIfpyoouurstoetal income will be between $70,000 and $84,000 ($100,000 and $119,000 if married), enter "1" for each

Enter "1" if: has no income subject to withholding; or

eligible child . . . . .. .. . .. .. . .. .. . .. .. . .. .. . . . . . .B. . . . . . . . . . .

{ } ?

Your

income

from

a

second

pension

or

a

job

orG

yAFodoudr rlinesspAothurosugeh?'FsIfaynoduenptlearntottoal

here. (Note: itemize or

This may be different from claim adjustments to

the number of exemptions you claim on income and want to reduce your

your tax return.) withholding,

pension or wages (or the total of all) is $1,500 or lesasc.curacy,

see the Deductions and Adjustments Worksheet on page 2.

{ Enter "1" for your spouse. But, you may choose to enter "-0-" if ycaoollmupalertee ma?rrImifeyaodrurieaadrneadsnindhgylaoeuvaenadnedhiaytovheuermrsoparoeustshpeaobnouotnhseehsaovweurhicnoecoohmf aienscsoumbjeecstutbojewcitthtohowlditihnhgoaldnidngyoourrare

F G

income

subject

to

withholding

or

more

than

one

source

of

incomweorskushbejeetsct

that apply.

tocPowemnisbtiihonnehsdo/Minldcoorinme-geTh.frao(nmE-Onalntl ees-orIuninrccogems "ee-xWc0eo-er"dkssmh$e5ae0ty,0o0nh0pe($al2gp0e,020t0o

if married), see the Multiple avoid having too little tax withheld.

you avoid having too little tax withheld.) . . . . . . . . . . . . ?.If ne.ithe.r of .the a.bov.e situ.atio.ns a.pplie.s, st.op h.ere.and enter tChe number from line G on line 2

of Form W-4P below.

D Enter number of dependents (other than your spouse or yourself) you willSceplaariamte hoerne aynod guivretFaoxrmrWe-t4uPrtno the p.ayer.of yo.ur pe.nsio.n or D annuity. Keep the top part for your records.

W-4P E Enter "1" if you will file as head of household on your tax return . . . . . . . . . . . . . . . . .

E

F Child Tax Credit (including additional child tax credit). See PubF.or9m72, Child Tax Credit, for mPoeWrenistinhiofhonormlodraintAigonnnC.ueirttyifPicaaytme efonrts

?

If

your

total

income

will

be

less

than

$70,000

($100,000

if

marDreipeartdme)n,t enter "2" of the Treasury Internal Revenue Service

for

each

eliFgoribPrliveaccy Ahctiladnd; PtahpeerwnorkleResdsucti"o1n A"ctiNfotice, see page 4.

OMB No. 1545-0074

2016

you have two to four eligible children or less "2" if you have fiveYoourr fmirstonarmee eanldigmiibddlele incithialildren.

Last name

Your social security number

? If your total income will be between $70,000 and $84,000 ($1Ho0m0e,a0d0dr0essa(nnumdbe$r a1n1d 9str,e0et0o0r ruirfal mrouater) ried), enter "1" for each

eligible child . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F

G Add lines A through F and enter total here. (Note: This may be different fromCitythoretonwun,mstbatee,raondf ZeIxPecmodeptions you claim on your tax return.)

G

Claim or identification number (if any) of your pension or annuity contract

For accuracy, complete all

{

worksheets

that apply.

? If you plan to itemize or claim adjustments tCoominpcleotemthee foallonwdinwg aapnpltictaoblerelindeus.ce your withholding,

see the Deductions and Adjustments Works1heCheetckohnerepifayoguedo2n.ot want any federal income tax withheld from your pension or annuity. (Do not complete line 2 or 3.)

?

If

you

are

single

and

have

more

than

one

so2urTacnoentauliotnyfupmianbymecreonomtf. a(Yelloouwsaaunlscboejsmeaacyntddetmsoiagrnwitaatlietsahtnahtauodsdlyditoioiunnaaglredoocllrlaariamarimnegoufnotr

withholding on line 3.) .

from each periodic .......

pension ...

or

married and you and your spouse both have iMnacriotaml steatussu: bjecStingtloe withMharorieldding Manardriedy,obuutrwithhold at higher Single rate.

(Enter number

of allowances.)

combined income from all sources exceeds $350A,0dd0it0ion(a$l 2am0o,u0n0t,0if aifnym, yaorurwieadnt),wistheheeldthfroemMeauchltpipenlseion or annuity payment. (Note: For periodic payments,

Pensions/More-Than-One-Income Worksheeytouocnanpnaotgeente2r atnoamaovuontidhehreawvitihnogut etontoerinligtttlhee ntuamxbewr i(itnhclhudeinldg .zero) of allowances on line 2.) . . . . $

? If neither of the above situations applies, stopYohuresirgenataurned enter the number from line G on line 2

of Form W-4P below.

Cat. No. 10225T

Date

Form W-4P (2016)

Separate here and give Form W-4P to the payer of your pension or annuity. Keep the top part for your records.

W-4P Form

Department of the Treasury Internal Revenue Service

Withholding Certificate for Pension or Annuity Payments

For Privacy Act and Paperwork Reduction Act Notice, see page 4.

OMB No. 1545-0074

2016

If You Don't Want Any Amount For Taxes Taken Out of Your Check Your first name and middle initial

Last name

Your social security number

Mark

the

boxHomneeadxdrtests o(numlibner eand1st.reDet oor runra'ltroumte) ark

any

other

boxes

(include

the

marital status boxes). Claim or identification number

(if any) of your pension or

City or town, state, and ZIP code

annuity contract

Complete the following applicable lines. 1 Check here if you do not want any federal income tax withheld from your pension or annuity. (Do not complete line 2 or 3.)

X

2 Total number of allowances and marital status you are claiming for withholding from each periodic pension or

annuity payment. (You also may designate an additional dollar amount on line 3.) . . . . . . . . . . .

Marital status:

Single

Married

Married, but withhold at higher Single rate.

(Enter number

of allowances.)

3 Additional amount, if any, you want withheld from each pension or annuity payment. (Note: For periodic payments,

you cannot enter an amount here without entering the number (including zero) of allowances on line 2.) . . . . $

Your signature

Cat. No. 10225T

Date

Form W-4P (2016)

you avoid having too little tax withheld.) . . . . . . . . . . . . . . . . . . . . . . . . .

C

D Enter number of dependents (other than your spouse or yourself) you will claim on your tax return . . . . .

D

E Enter "1" if you will file as head of household on your tax return . . . . . . . . . . . . . . . . .

E

F Child Tax Credit (including additional child tax credit). See Pub. 972, Child Tax Credit, for more information.

If You Want ACERA to Use the Tax Table to Calculate How Much to ? If your total income will be less than $70,000 ($100,000 if married), enter "2" for each eligible child; then less "1" if you have two to four eligible children or less "2" if you have five or more eligible children.

Withhold FWro-m4PYour Check for Income Taxes ? If your total income will be between $70,000 and $84,000 ($100,000 and $119,000 if married), enter "1" for each

eligible child . GFormAdd lines A through

. F

. and

.. enter

. total

.. here.

........

(NoteW: Thiistmhahyobelddififneregnt

.........

Cfroemrthteifniucmabetr eof efxoemrptions

. you

.. claim

. on

. your

. tax

...

OMB No.

return.)

154F5-0074 G

1.

For

? If you plan to itemizePoer cnlasimioandjuosrtmAenntns utoitinycoPmaeyamndewnatnst to reduce your withholding,

You can use the Personal Allowances Worksheet on page 1 of the W-4P f2o0rm16to determine how DInetepranacratcoml cRmeuenvprteaolnecfuttyehe,eSTerrveiacseur?y

see the Deductions and Adjustments Worksheet on page 2. If you are single and have more than one source of income subject

to

withholding

or

are

many allowances t{o put in the blank next to line 2. Purpaollse. Form W-4P is fomr aUr.Sri.ecditizaennds, yreosuideanntdalyieonsu,rosr pthoeuirseestabtoesth have inWchoamt deosI unebejedctot tdoo?wCitohmhpoleldteinligneasnAdthyroougrh G of the Personal

whowaroerrkescihpeieenttssof penscionmsb, ainnenuditinesco(inmcleudfrinogmcoamllmsoerucriacleasnneuxitcieese),ds $50,A0l0lo0w(a$n2c0e,s00W0orifksmhaererti.eUds),estheeeatdhdeitMionualltwipolreksheets on page 2 to

2.

and tchearttaianpopthleyr. deferredPceonmspioennssa/tMiono. rUes-eTFhoarmn-WO-n4eP-tIoncteollmpaeyeWrsothrkesheetfuortnhepraagdejus2t tyoouarvwoitidhhhoaldvininggaltloowoalnitctlees tfaoxr itwemithizheedldde. ductions,

correct amount of feder?alIfinnceomitheetarxotfotwhiethahoblodvferomsityuoautriopnasymaepnpt(lsie).s, stop headrejusatmndenetsntteorintchoemneu, manbyeardfdriotiomnalilnsetaGndaornd ldineedu2ction, certain credits,

In the blank next to line 2, write in a number of allowances. (If you enter 0, we will withhold the You also may use

tax withheld from

tFhoermpaWyom-f4eFPntot(oremxcchWeopo-ts4feoPr(aeb)lenigoliobt wlteo.rhoallvoevearndyisfetrdibeuratiloinnscoomr e

or multiple pensions/more-than-one-income situations. If you do not want any federal income tax withheld (see Purpose, earlier), you can skip the

highest amount. The higher the number you enter in the blank, the less we're going to withhold.) payments to U.S.Sceitpizaernastdeehlieverereadnodutgsiivdee FthoermUnWite-d4PSttaotetshoerpitasyer of your pewnsoiroksnhoeretasnannuditgyo. Kdiereecptltyhteo ttohep Fpoarrmt fWor-4yPoubrelroewc.ords.

possessions) or (b) to have an additional amount of tax withheld.

Sign this form. Form W-4P is not valid unless you sign it.

3.

In line 2, youWM-U4SP Withholding Certificate for Your options depend on whether the payment is periodic, nonperiodic, Foor ramn eligible rollover distribution, as explained on pages 3 and 4. Your

Future developments. The IRS has created a pageOoMnBIRNSo..g1o5v45fo-0r 074 information about Form W-4P and its instructions, at w4p.

T mark one of the three marital status boxes. Pension or Annuity Payments previously filed Form W-4P will remain in effect if you do not file a Form

2016 DWe-p4arPtmfeonrt 2of0t1he6.Treasury

Information about any future developments affecting Form W-4P (such as legislation enacted after we release it) will be posted on that page.

4.

Internal Revenue Service

If you want ACERA to withhold an additional amount on top of what we will already withhold Your first name and middle initial

For Privacy Act and Paperwork Reduction Act Notice, see page 4.

Personal ALlalsotwnaamneces Worksheet (Keep for your records.)

A Enter "1" for yourself if no one else can claim you as a dependent . . . . . . . . . .

.

Y.ou.r so.cia.l se. curity nAumber

based on the tax tables, enter a dollar amount on line 3. If not, leave line 3 blank. Home address (num?beYroaundasretreseint gorleruarnaldrohuatvee) only one pension; or

? You are married, have only one pension, and your spouse

{ } BCityEonr tteorw"n1, "stiaf:te, ahnadsZnIPo cinocdoeme subject to withholding; or

Claim or identification number

(if any) of your pension or

. . . . . . a.nnu.ity.con.tra.ct

B

? Your income from a second pension or a job or your spouse's

Complete the follpoewnisniognaoprpwlicaagbelse(olirnethse. total of all) is $1,500 or less.

C1 ECinnhcteoecmrk"eh1es"ruefobifrjeyycootuutdrooswpnioothuthwsoeal.dnBitnuagnt,oyyrfoemudeomrraeal yitnhccaohnmoooesnteeaxtsowouiethnrchteeerldo"f-fr0ion-mc"oiyfmoyueoruspueabnresjeiocmntaotrorriaewndinthaunhitydo.ldh(Dianovgen. oe(Etitcnhoteemrripanlegstpe"o-li0un-es"e2mwoarhy3o.h)healps

2 2 Tyooutaal vnouidmhbaevrinogf taolloowlitatlnecteasx wanitdhhmeladr.i)tal. st.atu.s y.ou. ar.e c.laim. in.g f.or .wit.hho. ld.ing. fro. m.ea.ch .pe.rio.dic. pe. ns.ion. or annuity payment. (You also may designate an additional dollar amount on line 3.) . . . . . . . . . . .

C

D E3 F

X EMnatreirtanlusmtabteurso:f depeSnidngelnets (otheMr athrraiendyour spMouasrreieodr, ybouutrwseitlhf)hyooldu awtilhl icglahiemr Soinngyloeurrattaex. return . . . . .

EAndtdeirtio"1n"alifaymououwnitl,l fiifleanays,hyeoaudwoafnhtowuisthehheoldldfroonmyoeuarcthaxperentsuiornn .or a. nn.uit.y p.aym. en. t. .(No.te:. Fo.r p.eri.odi.c p.aym. en. ts, yCohuildcaTnanxotCernetdeirt a(inncalmudoinugntahdedrietiownitahlocuhtilednttaexrincgretdhite).nSuemebPeurb(i.n9c7lu2d,inCghizlderToa) xofCarlelodwit,afnocrems oorne liinnfeor2m.)at.ion.. . .

(EDnter number ofEallowances.)

$ 250

? If your total income will be less than $70,000 ($100,000 if married), enter "2" for each eligible child; then less "1" if

Youyr osuignhaatvueretwo to four eligible children or less "2" if you have five or more eligible childDraetne.

? If your total eligible child

income ...

will .

be .

between $70,000 and $84,000 ($100,000 . . . . . . . C.at. N. o. 1. 022. 5T. . . .

and .

$119,000 if ....

married), ...

enter ..

"1" ..

for .

eacFhorm .

W-4P F

(2016)

G Add lines A through F and enter total here. (Note: This may be different from the number of exemptions you claim on your tax return.) G

If You Want a F{lat Dollar Amount Taken Out Your Check For accuracy, complete all worksheets that apply.

? If you plan to itemize or claim adjustments to income and want to reduce your withholding, see the Deductions and Adjustments Worksheet on page 2.

? If you are single and have more than one source of income subject to withholding or are married and you and your spouse both have income subject to withholding and your combined income from all sources exceeds $50,000 ($20,000 if married), see the Multiple Pensions/More-Than-One-Income Worksheet on page 2 to avoid having too little tax withheld.

? If neither of the above situations applies, stop here and enter the number from line G on line 2

1. Leave the box in line 1 blank. of Form W-4P below. Separate here and give Form W-4P to the payer of your pension or annuity. Keep the top part for your records.

W-4P 2. Do not enFotrmer an amount in line 2 (Wdiothnhooltdipnug tCienrtaifizceatreo;foler ave it blank). Do not mark OMB No. 1545-0074 a marital status

box in line 2. Department of the Treasury Internal Revenue Service

Pension or Annuity Payments

For Privacy Act and Paperwork Reduction Act Notice, see page 4.

2016

Your first name and middle initial

Last name

Your social security number

3. Write the dollar amount you want withheld from your check in line 3. Write "flat" next to the

amount.

Home address (number and street or

(If you don't write

rural route)

"flat" ACERA

will

have

to

contact

you

to request another Claim or identification number (if any) of your pension or

form.)

City or town, state, and ZIP code

annuity contract

Complete the following applicable lines.

1 Check here if you do not want any federal income tax withheld from your pension or annuity. (Do not complete line 2 or 3.)

2 Total number of allowances and marital status you are claiming for withholding from each periodic pension or

annuity payment. (You also may designate an additional dollar amount on line 3.) . . . . . . . . . . .

Marital status:

Single

Married

Married, but withhold at higher Single rate.

(Enter number

of allowances.)

425 flat 3 Additional amount, if any, you want withheld from each pension or annuity payment. (Note: For periodic payments, you cannot enter an amount here without entering the number (including zero) of allowances on line 2.) . . . . $

Your signature

Cat. No. 10225T

Date

Form W-4P (2016)

Whenever You Want to Change Amount of Withholding

1. Each time you want to change your withholding with ACERA, you must file a new form W-4P. The new form that you file completely replaces the previous withholding form you filed. It does not add to the previous form. For example, if ACERA was withholding $500 from your check, and you file a new form W-4P requesting to withhold an additional $100, ACERA will begin withholding only $100 from your check, not $600.

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