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Reply to "fed tax way underwithheld this year. arghhhh"
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[quote=Anonymous]Let me start by saying mea culpa. I should have noticed. I am not very educated on finances and unfortunately spouse is worse, so I do everything (investments, loans, bills, etc). I am trying to learn more but in the last year we moved, I got a new job, I moved my elderly parent out of their home and to live near us and one of my kids was diagnosed with a medical issue that has taken up a huge amount of time. Plus I work for the state of VA and our payroll system changed last year to something very confusing so I didnt...pay attention... to the taxes withheld. Heres the confusing part. I started this job in mid September 2021. I believe I filled out my w4 correctly and my withholding seemed reasonable. I did not change anything between then and 2022 except that I increased my retirement deductions by a bit. However, that should not have affected the withholding this much. Instead of taking out 650$ per pay period, as they did in 2021, they took out 218$. I have no idea why. Strangely, they are taking out the same amount in federal tax as my insurance costs. Everything else lines up--social security, medicare withhldings are on track. But my federal income tax is ot and I will owe a lot of $$$. I only found this out today and wrote immediately to our (useless) HR department. I doubt I will get an answer of any sort but....can anyone explain why this might happen (I did NOT file another w4!!!). [/quote]
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