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Old 02-20-2007, 10:57 PM
bono9763@yahoo.com
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Default Re: number of allowances on paycheck

long...[at]yahoo.com wrote:

- quote -

> I'm trying to find information on how the number allowances
> you claim on your paycheck, affects the federal taxes
> witheld. I am currently claiming 2, and am getting too much
> taken out of my check still, and got back too large of a
> refund. I would like to balance this out a little better.
> Is there a % on how each time you add an allowance, x% less
> will be taken out?


See IRS Pub. 15 (Circular E) for details on withholding.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #1  
Old 02-20-2007, 10:57 PM
Ernie Klein
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Posts: n/a
Default Re: number of allowances on paycheck

longoja[at]yahoo.com wrote:

- quote -

> I'm trying to find information on how the number allowances
> you claim on your paycheck, affects the federal taxes
> witheld. I am currently claiming 2, and am getting too much
> taken out of my check still, and got back too large of a
> refund. I would like to balance this out a little better.
> Is there a % on how each time you add an allowance, x% less
> will be taken out?


There is a withholding calculator on the IRS website that
will walk you right through it.

http://www.irs.gov/individuals/artic...=96196,00.html

--
-Ernie-

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 
Old 02-20-2007, 10:57 PM
Rich Carreiro
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Posts: n/a
Default Re: number of allowances on paycheck

longoja[at]yahoo.com writes:

- quote -

> I'm trying to find information on how the number allowances
> you claim on your paycheck, affects the federal taxes witheld.


Download Publication 15 from www.irs.gov and turn to the
section on "Percentage Method of Withholding". It has
all you want to know.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #-1  
Old 02-20-2007, 12:26 AM
longoja@yahoo.com
Guest
 
Posts: n/a
Default number of allowances on paycheck

I'm trying to find information on how the number allowances
you claim on your paycheck, affects the federal taxes
witheld. I am currently claiming 2, and am getting too much
taken out of my check still, and got back too large of a
refund. I would like to balance this out a little better.
Is there a % on how each time you add an allowance, x% less
will be taken out?

Thanks

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

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allowances, number, paycheck
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