Did you notice your pension amount went down?

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  #1  
Old 02-03-2011, 08:20 AM
Sparky-30 Sparky-30 is offline
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Default Did you notice your pension amount went down?

By roughly $40 or more dollars?

LOWER AMOUNT ON YOUR PENSION

For anyone interested in why the IRS withheld additional taxes from the January annuity, the information can be found at FederalNewsRadio.com look for the Mike Causey column.
Answer to part of the missing money mystery. Even though the "Bush" tax cuts were extended, the congress waited too long for the IRS to take notice. Those who have federal tax deducted were charged what the rate would have been without the extension. That rate should change back next month and you should get a refund some time in the future

You can also see the article here
http://federalnewsradio.com/?nid=20&sid=2254464

Last edited by Sparky-30; 02-03-2011 at 09:02 AM.
  #2  
Old 02-03-2011, 08:27 AM
under55 under55 is offline
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Not ure if we will see an increase or not the information I found out was that there was a program last year that was not extended this year. Put America back to work or something like that.
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Old 02-03-2011, 08:42 AM
BOMBERO
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Default From the Office of the N.Y.S. Comptroller

Due to the recently passed Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, the IRS has released new federal income tax withholding tables for use during 2011.

The American Recovery and Reinvestment Act of 2009 (Making Work Pay Credit) which became effective on April 1, 2009 expired as of December 31, 2010. As a result, this credit is no longer reflected in the new 2011 federal income tax withholding tables.

These recent changes may result in an increase in your monthly federal income tax withholding.
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Old 02-03-2011, 09:07 AM
gage405 gage405 is offline
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Thank you very much for that information! I thought that was a
big increase just for health benefits, lol.
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Old 02-03-2011, 09:16 AM
Sparky-30 Sparky-30 is offline
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It did not just effect Fed. Retirees, my wife who has a private pension also took a hit.
My Fed. Blue Cross/Blue Shield went up around $31.00 also.
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Old 02-03-2011, 09:40 AM
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Well, good thing I'm not having to spend more on essentials, since the CPI says there is no inflation, and no need to increase my SS or pension.
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  #7  
Old 02-03-2011, 11:46 AM
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billethkid billethkid is offline
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Default Precisely why I do not have any taxes with held from ANY

of my retirement entities. This way I am in control of what I pay to whom and whether or when!!!

Me and my account have only me to keep track of.

btk
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Old 02-03-2011, 03:24 PM
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I didn't have any change and I do have taxes withheld.

Xavier
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Old 02-03-2011, 04:45 PM
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Thank you so much for the info. I did not know why the decrease.
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