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New Fed Tax Witholdings??
Posted by: prof
Date: March 20, 2009 04:35PM
I received my paycheck today and discovered that my Federal Tax Witholding has jumped from $258 to $369 since my last check (2 weeks ago) because of a new Federal Tax Deductions booklet that was released in March. Can this possibly be true? I have not gotten a raise in a year and a half and I have not changed my deduction number. I'm single with no kids and was having a having trouble making ends meet to begin with. Now I'll have $2500 less this year to pay bills. I'm having real trouble believing this is true but I saw the new and old deduction booklets and it appears to be correct. I've never heard of the Federal Witholding changing in the middle of a tax year tho. As far as I can recall it's been consistent thru the entire year once it's been set. Has this affected anyone else??

TIA,
prof



Edited 2 time(s). Last edit at 03/20/2009 04:37PM by prof.
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Re: New Fed Tax Witholdings??
Posted by: Carm
Date: March 20, 2009 05:04PM
Will take a gander when my paper check arrives.

Joe
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Re: New Fed Tax Witholdings??
Posted by: Racer X
Date: March 20, 2009 05:09PM
the government needs a loan to stay afloat?
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Re: New Fed Tax Witholdings??
Posted by: Stephanie
Date: March 20, 2009 05:16PM
My last paycheck was $20 more ( take home).
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Re: New Fed Tax Witholdings??
Posted by: Black
Date: March 20, 2009 05:34PM
My take-home went up ever so slightly as well.
Someone screwed up?




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Re: New Fed Tax Witholdings??
Posted by: Acer
Date: March 20, 2009 05:56PM
Hmm.

There's been no change in the tax rate, AFAIK, only a change in the rules for withholding, mainly being slightly less withholding.

You certainly should not see a dramatic increase in amount withheld. Are you sure there is not an error, either in your old paycheck or your new one? Or your employer was looking for a new w-4 for the year which you didn't know about? Or...?
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Re: New Fed Tax Witholdings??
Posted by: Gutenberg
Date: March 20, 2009 05:58PM
The IRS released new withholding tables, designed to give most employees more take-home pay.

[www.lafayette-online.com]
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Re: New Fed Tax Witholdings??
Posted by: The UnDoug
Date: March 20, 2009 06:12PM
I have heard of people already seeing the gov't stimulus reflected in their paychecks (meaning a slight increase).



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Re: New Fed Tax Witholdings??
Posted by: prof
Date: March 20, 2009 06:26PM
Quote
Gutenberg
The IRS released new withholding tables, designed to give most employees more take-home pay.

[www.lafayette-online.com]

That's the new booklet alright 15-T.
How the hell can it help everyone else but me???
I'm hoping there's some mix up.

Thanks,
prof
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Re: New Fed Tax Witholdings??
Posted by: Lee3
Date: March 20, 2009 06:32PM
Someone has to pay. I mean, its not like they can just print money to give away. Oh wait
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Re: New Fed Tax Witholdings??
Posted by: Grumpyguy
Date: March 20, 2009 07:00PM
that doesn't seem right. Sure they didn't forget to take out tax on a bonus, overtime, gift?



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Re: New Fed Tax Witholdings??
Posted by: Michael
Date: March 20, 2009 07:12PM
Did they either: 1. change number of allowances or 2. change additional withholding?
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Re: New Fed Tax Witholdings??
Posted by: AlphaDog
Date: March 20, 2009 08:09PM
Do you get a tax refund when you file your taxes? If so, just take a fixed amount instead of the standard deduction. Google for and then download a copy of IRS Publication 919. If you feel so much is being taken out that you will get a large refund when you file your taxes for 2009, you can easily adjust the deduction on a new W-4. This issue is addressed on, I think, page 6 of Pub 919. There's absolutely no point in giving your money to the IRS to hold. Just make sure you do your calculations carefully, because you don't want to wind up in a position where you owe more than $1,000 in additional taxes when you file, or at least I think that's the cutoff point for a penalty.
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Re: New Fed Tax Witholdings??
Posted by: Lee3
Date: March 20, 2009 09:02PM
I don't think you people understand, someone is going to pay more. And as time goes on, it will be more and more people.
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Re: New Fed Tax Witholdings??
Posted by: sunfalcon
Date: March 20, 2009 09:11PM
My check is higher - just noticed on my last pay.
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Re: New Fed Tax Witholdings??
Posted by: gabester
Date: March 20, 2009 10:14PM
Quote
Lee3
I don't think you people understand, someone is going to pay more. And as time goes on, it will be more and more people.

Wouldn't that mean that tickle-up economics is working, allowing more people to successfully enter higher ranks within the graduated, progressive income tax?
g=
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Re: New Fed Tax Witholdings??
Posted by: Gutenberg
Date: March 21, 2009 09:19AM
I think the accountant screwed up, prof. You should be taking home more, not less.
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Re: New Fed Tax Witholdings??
Posted by: RAMd®d
Date: March 21, 2009 11:08AM
The Government never did like you, prof.

This is just the beginning.






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