More Incompetence from the Treasury

[clarky07]

More Incompetence from the Treasury

"Millions of Americans enjoying their small windfall from President Barack Obama’s “Making Work Pay” tax credit are in for an unpleasant surprise next spring.

The government is going to want some of that money back.
…
But new tax withholding tables issued by the IRS could cause millions of taxpayers to get hundreds of dollars more than they are entitled to under the credit, money that will have to be repaid at tax time.

At-risk taxpayers include a broad swath of the public: married couples in which both spouses work; workers with more than one job; retirees who have federal income taxes withheld from their pension payments and Social Security recipients with jobs that provide taxable income.

The Internal Revenue Service acknowledges problems with the withholding tables but has done little to warn average taxpayers."


Why is our government so pathetic?

[Punisher84]

I posted this about a week ago here... Obama Tax stimulus help maybe the answers will help if you are in a spot similar to me.

[clarky07]

thanks, I missed that thread. I'm ok personally, single and only 1 job, I was just sharing the information for those affected by it.

Like Reagan said, the nine scariest words in the English language are, “We’re from the government, and we’re here to help.”

[SomeGuy]

Single, 1 FT job, and no deductions. I get raped every paycheck on withholding, but I at least will be spared this screw up from the Fed.

[Punisher84]

I was freaked. Married, I have 2 jobs, she has one. I was thinking I was gonna owe 1,600 bucks or something lol

[clarky07]

wow, that could have been really rough. glad the government cares enough to let people know they messed up. oh wait, they don't. i forgot.

[greenego]

The Voice of Freedom - Millions of couples and retirees may have to repay some of Obama tax credit!

I found this article. May help explain just how bad this may be. My wife is retired. She got a letter telling her that her withholding is now $0.00. Yes we changed it back to what is was before Obummer,s tax plan.