My understanding is that is withheld at the rate as if it was the rate of your normal income, so

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Mar 2, 2021
7:17:06pm

BeyondTheMark All-American

My understanding is that is withheld at the rate as if it was the rate of your normal income, so

Yes it will inflate your withholdings and therefore how much you’d eventually get back.

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BeyondTheMark

Previous username: AtlantaMark
Bio page: BeyondTheMark
Joined: Aug 20, 2001
Last login: May 2, 2024
Total posts: 15,396 (219 FO)

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Messages

Author

Time

I am getting an unusually high amount of money in my federal and state tax

Beggar

3/2/21 5:26pm

<< Deleted >>

TwinsRight

3/2/21 5:32pm

Split the difference and adjust them a little

TwinsRight

3/2/21 5:36pm

Could also not do any withholding and put it in a savings account to pay full

Powerbait DPM

3/2/21 6:04pm

I screwed up big time this year. Combination of new software, bonuses being

doctorcoug

3/2/21 6:17pm

Tell me more about bonus withholding.

Beggar

3/2/21 6:55pm

My understanding is that is withheld at the rate as if it was the rate of your normal income, so

3/2/21 7:17pm

Sounds like your employer did the aggregate method, which feels like 40 percent

doctorcoug

3/2/21 7:18pm

I'm sure the government loved the interest free loan.

draperman

3/2/21 7:11pm

I always use the IRS withholding calculator to get an idea.

Bin01015

3/2/21 8:01pm

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