Epson 4500 - Manual (Page 95)

Using Short Tear-Of
If the page perforation is not properly aligned with the tear-off edge,
you can adjust the tear-off position using micro-adjustment, as
described below.
Note: Short tear-off is not performed unless printing of a page is
completed and the paper has advanced to the top of the next page.
When you resume printing after tearing off the sheet, the paper
automatically feeds backward to the loading position before printing
begins.
Adjusting the Tear-off Position
If the paper‘s perforation does not meet the tear-off edge, you can
adjust the tear-off position using the micro-adjustment feature.
3-16 Using the Printer