Form W-4V is relatively short, with few fields to complete, apart from showing the individual’s
name, address, social security number, and claim or identification number.
It gives the individual the option to start or stop withholding from social security or similar government program. If the individual chooses to start federal income tax withholding from their social security, they only have options of 7%, 10%, 12%, and 22% from which to choose. This portion of the form follows.
If the combined income is less than a base amount, no tax is imposed on the social security benefits. The base amount depends on filing status.
- Married filing jointly (MFJ): $32,000
- Single, head of household (HoH), qualifying widow (QW), or married filing separately (MFS) living apart from a spouse: $25,000
- MFS living with spouse at any time during the year: $0