|
|
In most situations, the tax withheld from your pay will be close to the tax you figure on your return – if you follow these two rules.
You accurately complete all the Form W-4 worksheets that apply to you.
You give your employer a new Form W-4 when changes occur.
But because the worksheets and withholding methods do not account for all possible situations, you may not be getting the right amount withheld. This is most likely to happen in the following situations:
You accurately complete all the Form W-4 worksheets that apply to you.
You have more than one job at a time.
You have nonwage income, such as interest, dividends, alimony, unemployment compensation, or self-employment income.
You will owe additional amounts with your return, such as self-employment tax.
Your withholding is based on obsolete Form W-4 information for a substantial part of the year.
Your earnings are more than $130,000 if you are single or $180,000 if you are married.
You work only part of the year.
You change the number of your withholding allowances during the year.
For a 2010 W-4 form with instructions click here.
|
Tags: Tax, tax forms
This entry was posted
on Thursday, June 17th, 2010 at 9:02 am and is filed under Individual, Tax.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
