General chatter - Withholding Calculator




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JayEll
04-10-2009, 07:13 AM
If you're wondering whether the stimulus plan in the U.S. is going to mess up your withholding, you can check it out on the IRS website's withholding calculator:

http://www.irs.gov/individuals/article/0,,id=96196,00.html

Jay


ronni62
04-10-2009, 10:37 AM
Oh, my gosh, JayEll, thank you so much for posting that. I found out that with the new stimulus and since we will no longer get the child tax credit for one of our sons (turns 17 this year), we would end up owing almost $3000 when we file next year!!!! We will be changing the withholding today!

jules1216
04-10-2009, 01:59 PM
We have already been warned at work that we might want to take a little extra out each week.


nelie
04-10-2009, 02:11 PM
I'm hoping to owe next year but its always a dance on how much to owe versus getting dinged for owing.

JayEll
04-11-2009, 07:50 AM
Yeah--as long as you owe less than $1000 beyond your withholding amount, you won't get dinged. Of course, the states are another matter.

Jay

nelie
04-11-2009, 12:33 PM
Hmm, weird, we owed $2k the year before last and didn't get dinged. I have to check again about the limits.