W4-P

[schirallicpa]

Is so confusing to older people.  And to me.  Why can't you just put down a percentage that you want withheld.

 

[Medlin Software, Dennis]

Because the tax tables are not a flat %.
 

I get this question almost daily. Ironically it comes from employees whose tax preparer tells them their liability is a flat %.

[schirallicpa]

I need my taxpayer to withhold 15%.  So I have to calculate the semi-monthly amount and take 15% of it and put that on the extra withholding line.  That's not an effective method and the form does not allow me to do it any other way.

[Medlin Software, Dennis]

The current forms are better than I can remember, as there are options to effectively set a flat dollar amount (which can be a % calculation).

It is just silly and to tell them something they cannot legally enter, a flat %. While someone's "effective" tax liability can be calculated as a % for a particular year, there is no such withholding method available, so please stop telling someone their WH needs to be a flat %. A real pet peeve of mine, sicne such statements mean I, after the employer gets to deal with the employee's demand, has to tell the employer and employee the law does not permit such a selection.

[Abby Normal]

1 hour ago, schirallicpa said:

I need my taxpayer to withhold 15%.  So I have to calculate the semi-monthly amount and take 15% of it and put that on the extra withholding line.  That's not an effective method and the form does not allow me to do it any other way.

Agreed. You can do that with IRA distributions.

[Lee B]

On a SS W-4V, you can elect to deduct 7, 10, 12, or 22 %

[Max W]

One way to do it is to use the IRS calculator.   irs.gov/individuals/tax-withholding-estimator 

Otherwise, doing it on the form is enough to drive Einstein up the wall.