2008 Form W-4 Available

The IRS has released the final version of the 2008 Form W-4 (Employee’s Withholding Allowance Certificate). The form remains unchanged from last year except for the provision that the employee cannot claim an exemption if his/her income exceeds $900 ($850 for 2007) and includes more than $300 of unearned income such as interest and dividends, and another person can claim the employee as a dependent on his/her tax return. Employees who claimed exemption from withholding in 2007 must file a 2008 Form W-4 in order to continue claiming exemption from withholding.

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