W-4V to be available

[jdpny]

It would be helpful to have the ability to prepare a W-4V form within Lacerte. We find many clients need to adjust the withholding on their social security benefits

[BobKamman]

I advise my clients that withholding on Social Security is the last thing they want to do.  It's too difficult to make changes, or at least that has been my history with it.  I also advise them to lock their online SS account, because it seems too easy to hack.  If they have no other source for withholding, I suppose withholding is easier than quarterly payments, although those other sources may fluctuate substantially from good markets to bad.  

Since it's only name, address, SSN and choice of rate, it shouldn't be difficult to add to the program.  Nor should it be difficult to fill one out with pen and ink, if you have a steady hand.  

[pamdory]

I find I'm prepping several of these this year as well, as the withholding advice I gave people in the last year hasn't happened because they don't quite know how to execute.  We attach an envelope for the local office.  

It's not a difficult form to complete, but I'd just as soon have it within the Lacerte file rather than creating it on irs.gov.  

I'm finding that with inflation adjustments to tax rate brackets that those pensions that use the usual W-4P have had withholding decrease even as the benefit increases.  Being able to cover the shortfall with withholding calculated by percentage is a good solution.