Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 08-25-2017, 07:12 PM
Junior Member
 
Join Date: Aug 2017
Posts: 4
Tax question

The company I work for is closing next week. I will be getting my PTO paid to me and severance. I along with my co workers were told if we change our tax withholding to exempt we won't have to pay supplemental taxes of 25%. Is this true or can I get in trouble with the IRS. I did owe taxes last year. But this exempt status would only be for these checks not the whole year. If I can get in trouble can I claim 10 to pay less than the 25%. I am from California (just in case that info is needed to answer the question).



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
AGI Question - foreign income question tikomh Income 1 04-09-2012 09:22 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning