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The video tutorial teaches how to fill out Form W-4, known as the Employee's Withholding Certificate. It consists of five steps, with step one and five being mandatory. Steps two, three, and four are optional. Failing to complete all steps will affect your tax withholding based on your filing status. It is crucial to sign and date the form for it to be valid. This is a brief summary of how to correctly fill out Form W-4.