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  • Federal Taxes

    For those of you out there that are in the workforce, are you having issues with the IRS about how much federal taxes you owe? Or have been withheld recently? Something funky seems to be going on.

  • #2
    Originally posted by Ronson View Post
    For those of you out there that are in the workforce, are you having issues with the IRS about how much federal taxes you owe? Or have been withheld recently? Something funky seems to be going on.
    like what? I haven't started my taxes yet.

    Comment


    • #3
      Originally posted by Sparko View Post

      like what? I haven't started my taxes yet.
      Two friends, my wife, my brother (retired) and my brother-in-law did not have enough federal taxes deducted from their paychecks this year. This happened to me last year. In the case of my brother-in-law, he swears that everything should be absolutely the same from year to year because nothing has changed in his household, yet the deduction changed and his payroll department gave him doubletalk when he inquired.

      I'm not typically a conspiracy-minded person, but this is an awful lot of coincidence. It makes me wonder if there is some sort of kickback scheme going on. I just can't figure the angle.

      Comment


      • #4
        I will probably be doing mine in a week or so and will let you know.

        Comment


        • #5
          Originally posted by Ronson View Post

          Two friends, my wife, my brother (retired) and my brother-in-law did not have enough federal taxes deducted from their paychecks this year. This happened to me last year. In the case of my brother-in-law, he swears that everything should be absolutely the same from year to year because nothing has changed in his household, yet the deduction changed and his payroll department gave him doubletalk when he inquired.

          I'm not typically a conspiracy-minded person, but this is an awful lot of coincidence. It makes me wonder if there is some sort of kickback scheme going on. I just can't figure the angle.
          I heard that inflation is making a difference. I think I remember it raised some levels when a deduction kicked in. Also, I think there was a change on charitable giving rules, I'm probably not going to be starting mine for a couple weeks yet so I'll be interested to see what others find.
          "For I desire mercy, not sacrifice, and acknowledgment of God rather than burnt offerings." Hosea 6:6

          "Theology can be an intellectual entertainment." Metropolitan Anthony Bloom

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          • #6
            My tax filings for 2022 were almost identical to 2021.
            Some may call me foolish, and some may call me odd
            But I'd rather be a fool in the eyes of man
            Than a fool in the eyes of God


            From "Fools Gold" by Petra

            Comment


            • #7
              I never let them "take out taxes" from my income -- I do an estimate, and put that money in savings each month.

              When they do payroll deductions, they're basically using your money totally interest-free, then applying it to your taxes due.
              I'd far rather be earning interest on that money (currently 3.9%) and "pay in" at the end of the year, rather than get a "refund" of my own money.
              The first to state his case seems right until another comes and cross-examines him.

              Comment


              • #8
                Originally posted by Cow Poke View Post
                I never let them "take out taxes" from my income -- I do an estimate, and put that money in savings each month.

                When they do payroll deductions, they're basically using your money totally interest-free, then applying it to your taxes due.
                I'd far rather be earning interest on that money (currently 3.9%) and "pay in" at the end of the year, rather than get a "refund" of my own money.
                I've long considered that, but I'm afraid that paying the total amount all at once will give me a heart attack.
                Some may call me foolish, and some may call me odd
                But I'd rather be a fool in the eyes of man
                Than a fool in the eyes of God


                From "Fools Gold" by Petra

                Comment


                • #9
                  Originally posted by Mountain Man View Post

                  I've long considered that, but I'm afraid that paying the total amount all at once will give me a heart attack.
                  An EGGcellent point ---- if average citizens were required to pay quarterly - not from "withholdings", there would be FAR MORE uproar about the spending by "our government" like a whole navy of drunken sailors.

                  It is a bit stunning - however, I have the satisfaction of knowing that I've earned interest along the way - something the tax system will collect, but never pay.


                  Definition of "interest" - them what knows what it is collect it, them what don't understand it pays it.
                  The first to state his case seems right until another comes and cross-examines him.

                  Comment


                  • #10
                    Originally posted by Cow Poke View Post

                    An EGGcellent point ---- if average citizens were required to pay quarterly - not from "withholdings", there would be FAR MORE uproar about the spending by "our government" like a whole navy of drunken sailors.

                    It is a bit stunning - however, I have the satisfaction of knowing that I've earned interest along the way - something the tax system will collect, but never pay.


                    Definition of "interest" - them what knows what it is collect it, them what don't understand it pays it.
                    Hey! I was in the Navy and . . . uh . . . your remark is not totally unright
                    We know J6 wasn’t peaceful because they didn’t set the building on fire.

                    Comment


                    • #11
                      Originally posted by alaskazimm View Post

                      Hey! I was in the Navy and . . . uh . . . your remark is not totally unright
                      I purposely uncapitalized "navy".
                      The first to state his case seems right until another comes and cross-examines him.

                      Comment


                      • #12
                        Originally posted by Cow Poke View Post

                        I purposely uncapitalized "navy".
                        We know J6 wasn’t peaceful because they didn’t set the building on fire.

                        Comment


                        • #13
                          Originally posted by Cow Poke View Post

                          I purposely uncapitalized "navy".
                          I was obviously referring to Sparko and his buddies.
                          The first to state his case seems right until another comes and cross-examines him.

                          Comment


                          • #14
                            CP I thought you were retired? And do they even tax your police pension?

                            Comment


                            • #15
                              Originally posted by Sparko View Post
                              CP I thought you were retired? And do they even tax your police pension?
                              Nope - fully employed - not quite ready for retirement yet.

                              My biggest challenge is that, when I signed up for Social Security, I didn't have them do "withholding", but that's OK - I just put that money in savings every month and pay up in March.
                              The first to state his case seems right until another comes and cross-examines him.

                              Comment

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