Some Taxpayers In For An Unpleasant Surprise

KIRO YV ^ | 4-30-09 | Stephen Ohlemacher AP

[coop223]

There are two tables. They withholding table is what is taken out of your check accoding to what you put down on your W-4 form. example married, 1 dependent. With this info they take a set amount out of your check. The other table is the tax table. This table tells you how much you are taxed and at what percentage. example 10%, 15% etc. The big O adjusted the “WITHHOLDING TABLE”. The tax table did not change at all. you still how the 10%, 15% etc according to what you earn. Bottom line, you did not get a tax cut, all they are doing is withholding less.

[Randy Larsen]

Not me!

I saw through this scam right away and bumped my with holdings by 50 bucks a payday!

I’ve been had by the IRS before, and refuse to let them into my life again!

[NavyCanDo]

This was the notice sent out by my company.

. (Company name removed) IRS withholding tax law change in effect for future paychecks A U.S. Internal Revenue Service withholding tax law change (IRS Publication 919) will result in an average $13 less federal tax being withheld from each bi-weekly paycheck of affected employees. Shared Services Payroll & Timekeeping reports the revised tax tables were implemented in XXXXX systems on Feb. 24, and paychecks created after that date are being calculated using the new tax table. It is not necessary for employees to submit a Form W-4 to receive the automatic withholding change. The IRS asked employers to start using these new tables as soon as possible, but no later than April 1.

My bi-weekly federal withholding
Before: 246.54 After 215.77

Extra on my bi-weekly paycheck + $ 30.77 or 61.54 a Month

Now if others are right along with this news story, that the tax table did not adjust the same anount or at all then its best just to save that money in an interest bearing account. If our fears our right it will be their in April 2010 for you. If we are wrong, then you can enjoy that money then.