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#5
07-25-2003, 02:47 AM
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 Re: New withholding tables- are they retroactive to January? Arthur L. Rubin wrote: - quote - > Helen P. OPlanick EA wrote:
Not a problem using the cumulative method, and a true> > From when you got them forward. You cannot go back and give back. > How does the "Cummulative wages" option for calculating > withholding apply to this? You still wouldn't get anything > BACK, but your withholding might be 0 for a few weeks. > (This is the term used in the 2001 Publication 15-A; it may > be called something different in 2003. I don't do much > payroll tax work, and I haven't checked the current form.) windfall to employees who might enjoy that 0 withholding for a month maybe and thus further stimulate the economy. Instead of reducing my own federal withholding, I chose rather to increase it, and thereby obviate the need for any further estimated tax payments for this year. Ah yes, a blessing in disguise. Cheer$, Harlan Lunsford, EA in LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
07-22-2003, 05:55 AM
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| Re: New withholding tables- are they retroactive to January? Gindie wrote: - quote - > Are the withholding tables which went into effect this month
For July 1st forward. Any additional savings will show up> supposed to reflect the lower rates from January, or just > July forward? in more refund/ less balance due when return is filed. Cheer$, Harlan Lunsford, EA in LA (trying to decide what to do with his tax cut) << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
07-22-2003, 04:38 AM
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| Re: New withholding tables- are they retroactive to January? "Gindie" <gindie[at]aol.com> wrote - quote - > Are the withholding tables which went
The withholding rates have been adjusted to reflect the> into effect this month supposed to reflect > the lower rates from January, or just > July forward? retroactive tax cut. This means that if you have a greater amount of income (from wages) in the later half of the year, you'll probably be underwithheld. -- Paul A. Thomas, CPA Athens, Georgia taxman[at]negia.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
07-22-2003, 04:38 AM
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| Re: New withholding tables- are they retroactive to January? gindie[at]aol.com (Gindie) wrote: - quote - > Are the withholding tables which went into effect this month
The new rates are effective all year. You will probably be> supposed to reflect the lower rates from January, or just > July forward? slightly overwithheld for the year (because of higher withholding in the the first six months). << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
07-22-2003, 04:19 AM
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| Re: New withholding tables- are they retroactive to January? Gindie wrote: - quote - > Are the withholding tables which went into effect this month
July forward which, I believe, is made clear in the> supposed to reflect the lower rates from January, or just > July forward? instructions accompanying the new tables. Regards, Bill << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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07-22-2003, 04:19 AM
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| Re: New withholding tables- are they retroactive to January? - quote - > Are the withholding tables which went into effect this month
Helen, EA in PA> supposed to reflect the lower rates from January, or just > July forward? > From when you got them forward. You cannot go back and give back. Member of The Tax Gang President, PA Society of Enrolled Agents 1040EZ and 1040A tax prep at www.1040.com/1040pro << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
07-21-2003, 12:50 AM
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| New withholding tables- are they retroactive to January? Are the withholding tables which went into effect this month supposed to reflect the lower rates from January, or just July forward? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| january, retroactive, tables, withholding |
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