Millions May Have to Repay Part of Obama Tax Credit

[Sagran]

Originally Posted by Chatteress

I've instructed EDD to withhold from my unemployment checks. That isn't the issue ... The issue is that throughout this year, I've worked at multiple employers and I paid a hefty tax at tax time for 2008. I've tried the zero withholdings once and more than 2/3 were removed from my check (which was only 300 dollars). I cannot afford to have the government take out 2/3 of every paycheck when I earn less than 50,000 per year. If I knew how to fix this where the correct amount is withheld, I'd be happy but until then, I'll have to keep my 1 exemption and risk owing.

Without seeing your pay stub, I can't tell why so much was taken out. You'd have to look at state and local taxes as well as federal. Or someone made a mistake. There is no way that the federal withholding on $300 would in anyway approach 2/3 of the wages.

[Chatteress]

Originally Posted by Sagran

Without seeing your pay stub, I can't tell why so much was taken out. You'd have to look at state and local taxes as well as federal. Or someone made a mistake. There is no way that the federal withholding on $300 would in anyway approach 2/3 of the wages.

That's what happened and I netted only 79 dollars of the whole 300. Payroll was shocked when I confronted them with it and promptly got the money taken out refunded to me. This was back in 2008 and I since changed my withholdings back to 1 exemption as I cannot afford this happening on a larger scale.

[Sagran]

Originally Posted by Chatteress

That's what happened and I netted only 79 dollars of the whole 300. Payroll was shocked when I confronted them with it and promptly got the money taken out refunded to me. This was back in 2008 and I since changed my withholdings back to 1 exemption as I cannot afford this happening on a larger scale.

Payroll made a mistake. And then they fixed it.