Take home pay is going down

[Mac in Wisco]

My wife and I received our military pension payments today and it took me a few minutes to figure out why we each got about $40 less. It's because the Federal Income Tax Withholding tables reverted back to before the Making Work Pay Tax Credit went into effect in 2009. Unless you had your payroll folks adjust your withholding otherwise, each person had about $40 less taken out in withholding putting more back into their take-home pay from April - December. Now it's back to normal.

 

[speckledhen]

Just checked and ours is the same as usual, Mac. We were expecting it to be less, but it isn't.

 

[Mac in Wisco]

Quote:
Hmm... That's strange. I just looked at both of our statements. It wasn't quite the $40 I had stated, but it was $17 more federal withholding for each of us. The other deductions were from other changes. The $17 must be the difference between the Making Work Pay withholding tables and new 2010 tables.

 

[lockedhearts]

Hubby's was less, but I was prepared for the loss so I didn't have a coronary........

 

[thebritt]

My DH lost his job in Sept. Our income is now 1/2 what it was...yet the animals don't seem to be eating less, and the bills haven't gone down....