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Withholdings on your paycheck
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<blockquote data-quote="MattM" data-source="post: 4320804" data-attributes="member: 53192"><p>Dang it. I’m usually aware of stuff like this before it creeps up on me</p><p></p><p>thanks for the post here</p><p></p><p>I used to have two or three withhildings trying to zero myself out. </p><p></p><p></p><p>The ups w4 withholding page is updated. It says allowances are no longer used to ensure accuracy. lol. There’s less info and boxes available. I was able to use a withholding tax chart to perfectly calculate my number. Now they don’t really give me an option</p><p></p><p>———-</p><p><strong><em>Helpful Hint:</em></strong><em>By completing only Steps 1 and 5, your 2020 withholdings will be equivalent to filing Single-2 (two allowances) under the old method for Single and Married Filing Separately filers. It will be equivalent for Married-3 (three allowances) under the old method for Married Filing Jointly filers. If Single-2 or Married-3 would result in too little being withheld, select 'yes' in Step 2. This will result in the equivalent of Single-0 (no allowances) or Married-0 (no allowances) being withheld under the old method.</em> </p><p>——-</p><p></p><p>this is no more helpful than the old method. What a disaster. </p><p>Thanks for the heads up</p><p></p><p>it’s not gonna be so easy to go from zero to 2, and back to 3, or 4 on the fly anymore. Maybe that was their plan.</p></blockquote><p></p>
[QUOTE="MattM, post: 4320804, member: 53192"] Dang it. I’m usually aware of stuff like this before it creeps up on me thanks for the post here I used to have two or three withhildings trying to zero myself out. The ups w4 withholding page is updated. It says allowances are no longer used to ensure accuracy. lol. There’s less info and boxes available. I was able to use a withholding tax chart to perfectly calculate my number. Now they don’t really give me an option ———- [B][I]Helpful Hint:[/I][/B][I]By completing only Steps 1 and 5, your 2020 withholdings will be equivalent to filing Single-2 (two allowances) under the old method for Single and Married Filing Separately filers. It will be equivalent for Married-3 (three allowances) under the old method for Married Filing Jointly filers. If Single-2 or Married-3 would result in too little being withheld, select 'yes' in Step 2. This will result in the equivalent of Single-0 (no allowances) or Married-0 (no allowances) being withheld under the old method.[/I] ——- this is no more helpful than the old method. What a disaster. Thanks for the heads up it’s not gonna be so easy to go from zero to 2, and back to 3, or 4 on the fly anymore. Maybe that was their plan. [/QUOTE]
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Withholdings on your paycheck
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