Payroll tax question

[Fitnessfreakk366]

I hope someone can help me. I don't think my boss is taking out enough fed tax from my paycheck. It went down to half after Feb. of 2009. I don't get it?

I went on the government website to see if I can find the tax table but can't. Can someone help me? I don't want to post specifics on here so if you need more info, pm me. If you can't pm me, let me know and I'll add you as a friend so you can pm me.

Thanks!

 

[Kettlecorn]

Hi,
Well, Obama, as part of the Federal stimulus bill reduced payroll taxes for this year, but I don't think they should have gone down by half-- that seems a bit much.

 

[upnorthchick]

Hi Debbie!

Here is a link to the 2010 Circular E (you can probably find the 2009 Circular E too). In here you will find the Withholding tables to see what should be withheld from your paycheck according to your taxable wages.

http://www.irs.gov/pub/irs-pdf/p15.pdf Start looking on page 41...

HTH!!

 

[sue320]

See if this helps.

http://www.irs.gov/individuals/page/0,,id=14806,00.html

 

[Fitnessfreakk366]

Hi,
Well, Obama, as part of the Federal stimulus bill reduced payroll taxes for this year, but I don't think they should have gone down by half-- that seems a bit much.

Yea, and that doesn't make any sense either. They reduce our federal tax yet we still have to pay this year. WTF???

Thank you Upnorthchick and Sue! I'll check out those links.

 

[Fitnessfreakk366]

Ok, I checked it out and he is doing it correctly.

Doesn't make any damn sense to me why they would give us this wonderful stimulus bill reduction only to make us pay at the end of the year anyways.

 

[cakebaker]

Ask your employer to take out more

If you have a tax preparer, have he/she help you figure out how much. There's also an IRS form to help with that, but I can't remember which one it is. It's been a long time since I did payroll.....

 

[Fitnessfreakk366]

If you have a tax preparer, have he/she help you figure out how much. There's also an IRS form to help with that, but I can't remember which one it is. It's been a long time since I did payroll.....

Yep, I was going to do that. I figure if he can take $15 more out a paycheck, that should be good.

Thanks!

 

[Liann]

Ok, I checked it out and he is doing it correctly.

Doesn't make any damn sense to me why they would give us this wonderful stimulus bill reduction only to make us pay at the end of the year anyways.

I hear you! Payroll here actually warned us to increase the withholding because we were basically going to get screwed in the end. We had to request more to be held out.

 

[upnorthchick]

Ok, I checked it out and he is doing it correctly.

Doesn't make any damn sense to me why they would give us this wonderful stimulus bill reduction only to make us pay at the end of the year anyways.

I know, right?! It's because they didn't change the tax tables. So, effectively, they are just taking less out of your paycheck. Ridiculous, IMHO! Yep, don't get me started on this

We warned our employees too, that they should check with their accountant, etc to figure out how much more to withhold.