Anyone else have to increase their Federal Withholdings this month?

[mchill]

I get an annuity check from OPM - federal retiree. I had figured out my projected tax cut for 2018 and it will only be 54 cents a month yet they lowered my withholding for the month by $100 (plus or minus)!

Is the GOP buying votes now? Pay later.

[11cents]

1. Huh! I'm seeing the same thing

Annuity check -- but I'm a ex-state employee (UC system). My federal withholding for January was almost $100 less than previously.

[11cents]

3. Withholding is based on some formula ....

...that's supposed to be a best guess, but only a guess, as to how much tax we'll owe. To figure out whether this is reasonable you have to look at what your rate is under the Tax Scam.

[mchill]

8. I've done that

Down to the $1550 Senior Standard Deduction. My tax cut is negligible.

[DeminPennswoods]

2. I just raised mine back up

to make sure I break even on owe/refund next year. Also a federal retiree.

[Phoenix61]

4. Yes, they are

The withdrawal amount is less but no one will know they got screwed until after the mid-term elections.

[11cents]

6. For blue-staters such as myself ...

...the key thing might be whether a cut in the basic tax rate for your bracket is or is not eaten up by loss of deductions for e.g., state taxes over $10,000. In my case it probably won't be.

[mchill]

9. For me, it's a matter of already deducting $12k and losing the Personal Exemption

Yes, tax brackets were better, but it didn't offset the loss of the Personal Exemption. I was very careful about my calculation and I do live in California.

[Gothmog]

5. The same thing happened to my son

He is an associate at a big firm and he calculated his tax and would owe a great deal at the end of the year.

[wishstar]

7. Yes, I increased my Fed withholding back up after OPM changed it this month

I estimated my tax cut at about $6 per month, but OPM reduced Fed tax withholding to give me $45 more, but I don't want to end up owing hundreds more a year from now when I file.