Withholding Warning

Make sure your withholding is accurate.

The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month.

  But new tax withholding tables issued by the IRS could cause millions of taxpayers to get hundreds of dollars more than they are entitled to under the credit, money that will have to be repaid at tax time.

  At-risk taxpayers include a broad swath of the public: married couples in which both spouses work; workers with more than one job; retirees who have federal income taxes withheld from their pension payments and Social Security recipients with jobs that provide taxable income.

1. I just updated my W-4.

   

   Posted by hsgbdmama on May 01, 2009 at 1106 hrs




2. Hmmmmm
   if we only had a flat tax it wouldnt be this difficult.
   and we wouldnt have so many errors

   Posted by (JavaScript must be enabled to view this email address) on May 01, 2009 at 1656 hrs




3. I am in this problem.  I work as a teacher during the day and at night, turn into an evil Wal Mart employee.  Now, even though I have o deductions on my Wal mart check, I am being taxed like I am on Earned Income Credit.  I am going to be so screwed next Spring when I do my 2009 taxes.  Thanks Obama and the Dem’s for this false “tax reducation”.

   Posted by (JavaScript must be enabled to view this email address) on May 02, 2009 at 0134 hrs




4. Just fill out another W-4, instructing WM to take out an additional amount of taxes that would be equal (or close to) what they used to take out.

   Posted by hsgbdmama on May 02, 2009 at 0632 hrs