The amount of Federal Tax withheld will be credited to the amount of other withholding that you have made.
However, you do not get to reduce the amount in box 1 by the amount in box 4.
For example, if Box 1 is $10,000 and box 4 is $3,000, you will receive as cash $7,000, but you will owe tax on the entire $10,000 (other things being equal). The $3,000 will be used to help pay your tax bill when it is finally calculated.
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