Author Topic: U.S. tax withholding questions  (Read 28826 times)

Joel

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Re: U.S. tax withholding questions
« Reply #50 on: January 31, 2014, 08:23:32 AM »
Yes but a 7.65% guaranteed return is pretty good. You are not guaranteed that with your investments.

Ideally with your income you should be able to max your 401k contribution and then throw every extra cent at your student loan debt.

IvyBlue

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Re: U.S. tax withholding questions
« Reply #51 on: November 21, 2017, 08:18:56 AM »
I will bump this topic while I am on hold with the IRS. I have received a "Lock In Letter" saying they are changing my withholding to Single, 0.

I work for the federal Government and have had Single, 0 withholding for the entirety of my 32+ year career, typically generating a $2,000ish refund (I know, I know, but I've reached a point where 2 grand doesn't mean much).

My question is this: Should I worry about some sort of skullduggery with my Social Security #? God knows I've been hacked multiple times lately, from Experian to Blue Cross. I'm thinking someone working under my number with no withholding. The thing with this is that the IRS audits 2 years in arrears and I've not received anything indicating unclaimed income.

I'm not expecting much from this call, I used to answer the IRS phones many years ago. They've "dropped" the call once already. A trick to keep your average talk times down, perhaps, that was known to happen.

IvyBlue

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Re: U.S. tax withholding questions
« Reply #52 on: November 21, 2017, 09:59:15 AM »
To follow up, after a lengthy wait a lovely phone call that was directed to my old district. Letter rescinded and she suggested I switch to Single, 2. Retiring next year so no big deal either way. The agent was able to confirm that there was no other job being worked with my Social Security # and other relevant information.

I was probably flagged because of stepped up scrutiny of federal employees. Himself and his crew apparently don't like us much. No one does, really, I'm used to it.