What is the purpose of the W-4 Form that is completed upon starting a new job?

The purpose of the W-4 Form is to specify personal exemptions for tax withholding. When an individual starts a new job, the W-4 allows them to communicate their tax situation to their employer, including how much federal income tax should be withheld from their paychecks. By indicating the number of exemptions or dependents they claim, employees can adjust the withholding amount, which will affect their take-home pay and their overall tax liability at the end of the year. This form essentially helps to ensure that the right amount of tax is withheld, preventing underpayment or overpayment of taxes throughout the year, and ultimately aiming to minimize any tax owed when filing their income tax return.

The other options, while related to job processes, do not pertain to the primary function of the W-4 Form. It does not apply for loans, declare salary expectations, or register for employee benefits, which are handled through other forms or discussions with the employer during the hiring process.