Congress Tinkers with Withholding Tax Tables for 2010

another forum ^ | SusanAnne Hiller

[o_zarkman44]

More lies from Obama. NO NEW TAXES FOR MIDDLE CLASS???

Michael Steele from the GOP should be all over this. Silence. Out of control, rogue congress has so many new taxes and fees included in their back room legislation we are going to be crushed financially. If you haven't changed your tax withholding for the coming year, be prepared for major, major, retroactive increases.

[WayneS]

Put me down as being in FAVOR of the IRS withholding the 2010 tax tables.

;-)

[RC2]

FAIR TAX........Do it and do it now.

[celtic gal]

WE GOT our statements from DFAS and I saw a 10 dollar decrease in my take home pay and the hubby 16..I sent this link to a friend who is also retired military but does tax returns to see if she has heard of this inasmuch as she has taken the lit and is working the problems with the software now.

[Not A Snowbird]

I noticed that when I checked my latest retirement statement. No increase in compensation, which is fine in these current times, but an increase in withholding.

Nice.

[Man50D]

All the deceit, trickery and the long arm thug IRS can go away with passage of the Fair Tax Act(HR25/S296) which will replace all federal income taxes with a national sales tax and abolish the IRS. Fair Tax ping!

[tatsinfla]

i noticed that my 1st check of the new year had more fed tax taken out of it....

[Reagan Man]

>>>>>In short, instead of the taxable wage starting at $138, it is now down to $116–which changes the income threshold and taxes even poorer Americans.

Guess that $250K figure on tax limits Obama threw around just went under the bus, AGAIN! LOL

Btw, Michael Steele is more interested in locating the nearest camera and getting his face on some other talking head show then tackling the GOP's real problems.

[HiJinx]

Ditto - down $15 per month here.

[o_zarkman44]

That is exactly the problem with automatic withholding.

There is no law that compels anyone to automatically allow withholding. It is just a matter of convenience for the taxpayer by not having to cough up all the money by April 15th. If you can put the balance away in an interest bearing account, you might realize some additional income. After all, you earn the money first so it is still your money until you declare taxes on April 15th.

On the other hand, automatic withholding allows government to have use of your taxes all year long. Obviously they tend to spend it all before it goes to the advertised causes. Why give the government any operating capital before they are entitled to anything?

[RayChuang88]

All the shenanigans with the Internal Revenue Code should tell us this is by far the worst form of corruption in Washington, DC. We should repeal the 16th Amendment and replace the IRC with FairTax, not only to end these practices, but to provide an unprecedented stimulus for the US economy.

[twigs]

Did you see where Obama and minions are going to start certifying all tax preparers? They will have to pay for it and take annual classes, so tax prep will cost more for everyone beginning 2011.

[HKMk23]

Time to review the ol’ W-4 Allowances. Maybe bump it from 13 to 14 for this year...

[foxfield]

Did you see where Obama and minions are going to start certifying all tax preparers?

Gee, do you think maybe HR Block and other big tax preparers might have some government officials in their back pockets?

[Getsmart64]

There is no law that compels anyone to automatically allow withholding. It is just a matter of convenience for the taxpayer by not having to cough up all the money by April 15th.

What...no penalty?

[GailA]

retired Military to take BIG hit under obamacare

[twigs]

The new rules will exclude CPAs and attorneys. And yes, the big tax preparers are delighted.

[o_zarkman44]

No penalty. Income tax is a year to year payment. Unless you are self employed. Then you are required to pay quarterly if your income is above certain thresholds.

[MarkL]

My 2 week pay check has dropped by about $28. I'll be turning in a new W4 on Monday. I don't see why I should give the imperial federal government an additional interest free loan of $728 this year.

Mark

[Taxman]

BOHICA!

One hopes that this “adjustment” further arouses the sleeping citizenry, and swells the April 15, 2010 TEA Party crowd into the multi-millions!