FITW is an abbreviation of Federal Income Tax Withheld. It is the percentage of your income that your employer takes out of his/her regular paycheck to cover the amount you are required to pay in federal income tax. This withholding is submitted to the IRS periodically and is calculated on the basis of the information you had given to the Form W-4 such as the filing status and the dependents. FITW assists in making sure that you are paying exactly what you should in terms of taxes without making a huge payment at the end of the year. You can revise or do a W-4, to ensure that the appropriate amount of FITW is being deducted off your salary.
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