State Income Tax Chart 2009
July 26th, 2010
Question: Question about Income Tax and Penalties?
My husband’s employer stopped taxing federal income taxes out of his paychecks a few months into 2009. When he inquired about it, they stated they were using a new chart because of the supposed stimulus that was to be thru paychecks. Well, now it’s tax time and he owes. We file seperately and have to due to a very old debt that takes any return of his, but usually he breaks pretty close to even at tax time. We owe $460 this year. While my return will have enough to pay this, my questions are:
1. I have heard of the underpayment penalty… will he be charged this if we pay on time, or has he already been charged this. If so, is there any way around it for this year?
2. I figured up that if they had held out as little as $10 more a paycheck, he would have broke about even ($10 x 52= $520). Is that correct, and is there a way to have them do this?
Thanks for any help!Answer: You won’t owe any penalty for underwithholding – that doesn’t kick in until the amount owed on the return is $1000.
Yes you can request extra money to be taken out by filing a new W-4 with the extra amount on line 6. If he has “married” on his W-4 he should change it to “married, but withhold at the higher single rate” – if he does that, they’ll take out more, and that would probably fix the problem without requesting the extra to be taken out. Either way should work.
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Federal Income Withholding Tax Tables for 2009, 2010
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