Federal Tax withholding

[Brock Landers]

Question for the accountants on the forum

Boys, today i got my 1st paycheck of 2010 and noticed the federal withholding was 10 bux more, not a big deal, but when you add my wife in, thats 20 per paycheck times 24 paychecks a year, thats 480 dollars going to where and for what?

Just would like to know when they make changes, or intend to, that its known or available somewhere, or if there is some chart to see which shows what the withholding rate is.

[FreeFall]

I'm going to help you out here
http://www.google.com/#hl=en&source=hp&q=federal+tax+withholdi ng

all the best

[WhatAboutMeBitch]

isn't there always a extra 1 time fee in the first check on local, state or fed taxes?

[smitch124]

There is some eye opening discussion about this issue on the "Glock Talk" forum, Item #10 of the search

[Dark Horse]

It's been a while, but if I remember correctly a huge portion of, if not all, federal tax goes to paying back the interest on the money that the privately owned 'Federal Reserve Bank' prints out of thin air. Something the US government could, and should, be doing. Big scam.

[Brock Landers]

interesting, this shit seems to go up and down arbitrarily, not down that often, but its hard, if not impossible, to figure out.

[Boner_18]

Just fill out your W4 so that there is zero withholding. If you have the discipline to save your actual tax obligation this is the best way to go. Why should you give the Fed. a zero interest loan on the overages in tax payments. People think they are getting money from the gov't in April but it is really just their money and they paid to much.

[Boner_18]

It's the discipline to save that is the hard part. As a teen i was burned by this before. duh

[Brock Landers]

So Boner, you are saying "owe every year, pay up in April" is the best policy? How do you figure what the correct amount you will owe is going to be, its tricky with business losses to report and the deductions that go up and down like farts in the wind every year.

[Brock Landers]

Got the answer from HR..

The temporary tax refief "The making work pay tax credit" that was issued by Barak Obama was only effective in 2009 so everyone's Federal Income tax incresed slightly beginning 1/1/2010.