Federal Or State Tax Withholding Election Form: Fill & Download for Free

I had to chime in because most folks responding here don't seem aware of the full extent of the Republican Tax Scam.The Blue State Trick and a Temporary CalmYes, the mission was to lower Federal taxes in order to boost everyone's 2018 paychecks just a little. And that probably worked. I didn't look, but let's assume they were clever enough to deliver that body. It was largely political, 2018 being an election year and all, as well as the truth than nearly all of the actual tax cuts went to the rich. I'm not quite done with my taxes, but I think I'm paying around $2,000 less this year than last year. So less than $40/week. I didn't notice. Apparently, most voters didn't either, because the Republicans suffered the greatest mid-term loss in recent US history (in terms of vote margins, not seats won, as the Republicans have a gerrymandered advantage of up to around 10% in some states, and see: Trump suffered the worst midterm loss in a century, says JP Morgan). Or maybe voters simply had more pressing concerns that couldn't be bought.Of course, that was 2018. What we who read through (at least a bit of) the new tax law understood was that it dropped bombs which would not go off until the 2019 tax preparation season. We're just starting that. The new tax code affects two of the main deductions available to meer mortals: the state and local tax deductions (SALT). It was longstanding government policy that you are not taxed, well, on your other taxes. So back when I paid $8000 in state income tax and $12,000 in local/county property tax back in Jersey, those were deductible. This year, there's a $10,000 cap on these. So ok, there's also an offset of sorts -- the standard deduction has been increased. So depending on how it all works out, you may wind up not being penalized, even if your taxes exceed the cap, as mine used to. Oh, and you have to choose which taxes to deduct. You can no longer deduct both income and sales taxes, even under the cap.You're good for now, but at the end of 2025, your tiny tax cut, the increased standard deduction, and a few other things that either lowered your taxes or at least mitigated the effect will expire. And as some of my Trump lovin' red state brothers and possibly sisters have or invariably will point out, this mostly affects Blue States, which sometimes manage to offer actual government services and still avoid any Kansas-sized financial Armageddons by funding their expenditures through balanced taxation. Not Jersey, my old state, but some. The red states just keep digging, but hey, you're good this year!That Other Trick (The One You’ll Find Out About Doing Your Taxes)Except you probably still aren't good this year. As I said, I did not look at my paycheck to see if I really saw some fraction of that $40/week bonus. Maybe there's even someone reading this who's thinking I'm nuts, they had a much bigger paycheck bonus and they know, deep in their hearts, a wizard such as I must earn more than they do. And yeah, I'm certain I did get more in that paycheck, because the new tax law also changed the tax withholding amount. In fact, it dropped it way down.In fact, while I did nothing to change my W-4 form, Uncle Sam took over $8,000 fewer dollars this year out of my bi-weekly camera, guitar, and beer allowance. That's the second part that makes this a scam: there is a $6,000 difference there. Do you update your W-4 form every year after reading the new tax code? I thought not. Might be worth looking into, if you don’t.Anyway, the upshot of this is that most people are going to be unhappy with this year’s taxes. If you’re expecting a refund, you may not get one. Lots of people who think they’re good will owe money, possibly quite a bit of money. And fines along with it for being late, since this money was supposed to be paid throughout 2018.Am I bothered by it? Not personally — I pretty much expected that the Republicans would screw over anyone who’s not rich. I’d be a little nervous if things looked too good at this point. But a recent study suggests that the majority of Americans depend on their expected tax refund to pay off debts, even just to make ends meet. And if you’re claiming they should have adjusted their W-4 withholdings to avoid that refund and dependency, sure. But another report claims that 62% of Americans cannot withstand a $500 emergency. We, as a club, as not making sound financial decisions. Trump’s recent government shutdown revealed a fairly frightening fact: 78% of Americans live paycheck to paycheck. A whole bunch of us are going to be upset this tax season, and too many will be in real trouble.And this is, in some ways, refreshing. The Republicans have railed against multiple taxation pretty much since I was a little kid, and probably before that. Now that they have openly embraced the idea that every American’s income can be doubly taxed, I am certain that they’ll finally stop trying to repeal the estate tax and any other efforts to remove, as they see it, double taxation.The Trump EquationBills always come due. But will this affect Trump’s base? As a result of the new tax law, a full 44.4% of Americans are only paying FICA, Medicare/Medicaid, and possibly local taxes. They will owe no Federal taxes.Trump’s base, that die-hard 25–30% of mostly tribal Republicans who will never leave Trump pretty much no matter what, demographically skew poor, uneducated, and old. So there will be a far smaller percentage of them paying any taxes — if they have withholdings, they’ll get the same refund they got last year. Now, if you want a defense of Trump, it’s easy: the Republicans wrote this bill, they put in a special new loophole for Trump, Jared, Beavis and Butthead, a special provision just for commercial real estate that’ll net them billions in a few short years. Trump didn’t read the bill, he just signed it for “the win”. So hey, if you’re a Trump fan, how can you blame him for what’s in the bill?Add to that the amazing ability of die-hard Trump supporters to ignore everything bad that Trump does. I don’t think this has a big impact on Trump’s base. I'd love this to be the one that has a few wake up, smell the coffee, and start voting for what's actually better for their lives. But that hasn't really been much of a motivating factor for 40+ years. It's so much easier to sell fear and hate.Thing is, Trump’s base puts him somewhere between Trump Tower, Rikers Island, and Leavenworth in early 2021. He needs a repeat of the 70,000 vote margin, or better, that won his Presidency in 2016. A whole bunch of those people will be doing their taxes over the next two months. Some may bother to actually do the math on why they’ve just drained their bank accounts.Read MoreSome Americans Depend on Their Tax Refunds to SurviveTrump's Tax Cuts Are Already Hurting AmericansThis is the No. 1 thing Americans do with their tax refund78% Of Workers Live Paycheck To Paycheck

Short answer: it's a form you'll need to fill out when starting a company, specifically when you're purchasing shares in the company you're starting.Long answer, copied from http://www.startupcompanylawyer.com/2008/02/15/what-is-an-83b-election/:"""Failing to make a timely 83(b) election with the IRS is somethingthat could lead to disastrous tax consequences for a startup companyfounder or employee.Founders typically purchase stock pursuant to restricted stockpurchase agreements that allow the company to repurchase “unvested”stock upon termination of employment. Similarly, employees may “early”exercise options subject to the company’s ability to repurchase“unvested” shares upon termination of employment.Under Section 83 of the Internal Revenue Code, the founder/employeewould not recognize income (the difference between fair market valueand the price paid) until the stock vests. However, if afounder/employee makes a voluntary Section 83(b) election, thefounder/employee recognizes “income” upon the purchase of the stock.Typically, the purchase price for the stock and the fair marketvalue are the same. Therefore, if an 83(b) election is made, there isno income recognized. Thus, a founder/employee should almost alwaysmake an 83(b) election. The benefits of an 83(b) election generally arestarting the one year capital gain holding period and freezing ordinaryincome (or alternative minimum tax) recognition to the purchase date.If the founder/employee does not make the 83(b) election, then he orshe may have income at the stock “vests.” The income will besubstantial if the value of the shares increases substantially overtime.For example, assume that a founder purchases stock for $0.01 pershare (fair market value is $0.01) and the stock is subject to fouryear vesting with a one year cliff. The founder does not make an 83(b)election. At the end of the one year cliff, if the stock is worth$1.00/share, then the founder would recognize $0.99/share of income. Asthe remaining stock vests each month, the founder would recognizeincome equal to the difference between the fair market value and$0.01/share. In addition, the company is required to pay the employer’sshare of FICA tax on the income and to withhold federal, state andlocal income tax.If the founder had made an 83(b) election, the founder would notrecognize any income as the stock vests, as the 83(b) electionaccelerates the timing of recognition of income to the purchase date.In order for an 83(b) election to be effective, the individual mustfile the election with the IRS prior to the date of the stock purchaseor within 30 days after the purchase date. There are no exceptionsto this timely filing rule. The last possible day for filing iscalculated by counting every day (including Saturdays, Sundays andholidays) starting with the next day after the date on which the stockis purchased. For example, if the stock is purchased on May 16, thelast possible day for filing is June 15. The official postmark date ofmailing is deemed to be the date of filing. The election should befiled by mailing a signed election form by certified mail, returnreceipt requested to the IRS Service Center where the individual fileshis or her tax returns. If the election is mailed after the 27th day,the individual should hand deliver the letter to the post office toobtain an official date-stamp on the certified mail receipt. A copy ofthe election should be provided to the company, and another copy shouldbe attached to taxpayer’s federal income tax return for the year inwhich the property is acquired."""

The frequency with which you get paid is based on the conpany's policy. It is likely every week or 2 weeks. Taxes will be withheld from your gross pay and your employer submits them to the government. You will get a w2 form at the end of the year and just file your taxes. The amount withheld for state and federal income tax is based on the withholding election you will make on the first day of work. You should claim single zero assuming you are unmarried.Contribute to the 401k as much as they will allow you. Pretend like you've never make that money. It will reduce your taxes and you wake up in 10 years with a couple hundred thousand in your account.