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The IRS W-4 form is crucial for both employees and employers. For employees, it determines the amount of taxes withheld from their W-2 checks, while employers use it to know how much tax to withhold from each paycheck for accurate employer tax payments. In this tutorial, hosted by Sean from Life Accounting, the video guides viewers through a step-by-step process of filling out the W-4 form. The W-4, titled the Employee's Withholding Certificate, influences tax withholding amounts from wages. The video aims to help viewers effectively navigate the form to ensure proper tax calculations.
