Stimulating Taxes

[kevin_standlee]

I got a note from my company's HR department advising us of changes in tax withholding on account of the stimulus package from the federal government. Following their instructions and going to the web site they directed, I determined that if I did not do something, I'd end up owing between $500 and $1000 in income taxes next April. Besides not wanting to have to come up with the money then, I thought there was a penalty for under-payment. So I had to refile my W-4 withholding exemptions form, and after all the changes percolated through, I end up with about $2/week more in take-home pay. Oh, well, at least my net pay didn't go down.

Comments

[cynthia1960.livejournal.com]

Is that website available to everyone, or is it behind your firewall?

[kevin-standlee.livejournal.com]

It's not proprietary; they just pointed us at the IRS Withholding Calculator.

[cynthia1960.livejournal.com]

Thanks. I'll check this out at home.