What is the purpose of the W-4 form?

The W-4 form is designed specifically for employees to indicate their tax withholding preferences to their employer. By filling out this form, employees provide information about their filing status, number of dependents, and any additional amount they wish to have withheld from their paychecks. This is crucial for the employer to calculate the appropriate amount of federal income tax to withhold from each paycheck, ensuring that the employee meets their tax obligation throughout the year. This information directly affects the employee's take-home pay and helps to prevent underpayment or overpayment of taxes at the end of the tax year. Other options do not correctly reflect the main function of the W-4 form.