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Brown Cafe UPS Forum
UPS Union Issues
Tax Filing Question..
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<blockquote data-quote="Kae3106" data-source="post: 1295965" data-attributes="member: 27557"><p>I've been trying to find out how they are planning to calculate the taxes on this. I should have a better answer in a couple of weeks </p><p></p><p>A special program has been created to track and calculate the retro. I can't imagine they would just dump that onto a current week paycheck and allow the taxes to over calculate. However, if they tell them system "this is 35 weeks' worth of earnings" it will under calculate.</p><p></p><p>I think we should have some notice of when it is coming. At the very least, everyone will know when the last contracts pass. If it does catch us all by surprise, you could always adjust your W-4 for the weeks following the retro to offset it.</p><p></p><p>I'll do my best to keep you all posted.</p></blockquote><p></p>
[QUOTE="Kae3106, post: 1295965, member: 27557"] I've been trying to find out how they are planning to calculate the taxes on this. I should have a better answer in a couple of weeks A special program has been created to track and calculate the retro. I can't imagine they would just dump that onto a current week paycheck and allow the taxes to over calculate. However, if they tell them system "this is 35 weeks' worth of earnings" it will under calculate. I think we should have some notice of when it is coming. At the very least, everyone will know when the last contracts pass. If it does catch us all by surprise, you could always adjust your W-4 for the weeks following the retro to offset it. I'll do my best to keep you all posted. [/QUOTE]
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