Published: January 23, 2011
Related Links
* IRS website
The official start of the 2011 tax filing season is under way, and some taxpayers already have found out they need to adjust their filing schedules.
For starters, individuals have three extra days this year to file their taxes. The deadline is April 18. The change is due to Emancipation Day, a holiday observed in Washington D.C.
Well aint that quaint?
From The DUmp:
RobertSeattle Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author’s profile Click to add this author to your buddy list Click to add this author to your Ignore list Wed Jan-12-11 04:07 PM
Original message
Here’s something you wouldn’t expect: Your Federal Taxes Withholding MAY be going up in 2011
If you make under $75,000, you Federal Income taxes are going up! It has to do with the “Making Work Pay Tax Credit” that expired 12/31/2010. If you make under 75K, your withholding will actually be going up with your first paycheck in 2011 assuming you didn’t have a salary change.
Yes, your SSN tax will be going down by 2% points, but due to changes in the withholding tables, you Federal Tax withholding will actually increase with your first paycheck in 2011. You’ll still have a net increase in take home, but it came as a surprise when I did our company’s payroll, and everyone who made under 75K got an increase in their withholding.