What is the IRS tax form W-4P?

The IRS Tax Form W-4P is the Withholding Certificate for Pension or Annuity Payments, says the Internal Revenue Service. People in receipt of annuities, pensions and certain other deferred compensation use Form W-4P to advise the payers the correct amount of federal income tax to be withheld.

People also may use Form W-4P to choose not have any federal income tax withheld from payments or to have an additional amount of tax withheld, explains TurboTax. Form W-4P does not need to be filed with a person's federal income taxes, as it is simply a form provided to note the taxpayer's withholding amounts.