[jerelian]

I just received my W2 or rather I just printed it out online because my company is slowly but surely going green. All my pay stubs are also online only. When I looked at how much was taken out for federal as well as state, it was a very low amount. To make a long story short, after researching I found that for some reason as of mid march fed and state tax were no longer being taken out. I called one of my bosses at work and she said there is no reason why this should be happening. All my deductions were correct and I was not in exempt status. I guess my question is am I going to be responsible for paying the full amount? If so, all at once?

Thanks

[Fr_Chuck]

The tax code was changed ( was on major news networks)

And of course you don't "owe" what is withheld, that is only estimated taxs held till you file.

If enough was not held out, yes you will have to write the government a check.

** which is of course really better than getting any back, since if you get it back, that means the government had use ( interest free) of your money.

The idea is to have your deductions and actual tax owed close so there is no large refund or no payment due.

[ebaines]

Yes - you are going to have pay the amount of tax owed to the IRS and your state by April 15. Has your employer fixed the problem? One other thing thing to check - did they take social security and medicaire taxes out of your pay, or did they forget to do that too? Finally, if you want, tell us what your pay amount is, whether its paid weekly, biweekly, semi-monthly, or monthly, and how many allowances you claimed on your W4, and we can tell you how much they should be withholding from your pay.

[ScottGem]

Gee, you notice your W2 amounts were low. But the W2 amounts are just totals of what was withheld during the year. So you never looked at your paystubs?

As Chuck said, tax rates were changed around March, so your withholding is probably correct. As noted withholding is just an estimate of what taxes you will owe for the year. You are responsible for the amount of taxes calculated based on your taxable income. Whatever was withheld is just applied against that.

The good news is that, if your weekly income was so low that no withholding was done, then you probably won't owe much.

[jerelian]

I am an hourly associate, paid bi-weekly. My total taxable earnings are $26719.54. Social security and medicare were both withheld. Allowances claimed were 2. Also, I looked at my wife's W2 and there was NO fed or state taxes withheld for her all last year. Her earnings are significantly less. She makes about $10/hour and is paid bi-weekly and ss and medicare were also withheld from her earnings. I think her allowances are the same.

I just found all this out last night and as I wrote in my initial post, everything is online, paperless. So, yes, I know it is lazy but I never thought to look at my stub online every two weeks. But then my wife claimed she looks at hers all the time and now we find nothing was taken out of hers. I just called payroll but I only got an answering machine. I left a very detailed message and contact info so I am hoping to hear from them tomorrow sometime (but not holding my breath).

Yes, some of this info helps a lot and I really hope you are right, Scott.

Thank you.

[ScottGem]

Well you may have a problem here. If you file jointly and combine your incomes, you may owe something.

The only way you will know is to complete your return.

[ebaines]

I am an hourly associate, paid bi-weekly. My total taxable earnings are $26719.54. social security and medicare were both withheld. Allowances claimed were 2.

Here's a rough calculation of what they should withhold from your pay check. Assuming you worked all year, your bi-weekly after-tax pay is about $1027. Subtract 2 allowances, and you get $746. The withholding on that amount should be about $22 per pay period.

[jerelian]

Got an answer from payroll. In my tax bracket, with two allowances, If each paycheck is under $920.00 nothing is withheld as of March 2009. Both my wife and I make under that per paycheck.

Also we did our taxes and it turns out we get a federal refund but still have to pay state. The fed. Refund was a bit more than what we have to pay state so we will still come out with some left over.