No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

Obama tax plan – get a little now, pay more in April

by @ 8:00 on May 1, 2009. Filed under Politics - National, Taxes.

(H/T – Hot Air Headlines)

The News Organization That Cannot Be Quoted™ found that millions of taxpayers, from married couples where both spouses work, to those with multiple jobs, to many retirees, will be getting a nasty surprise when they do their 2009 taxes. The IRS massively screwed up the tax withholding tables in their attempt to implement the $13/week “Making Work Pay” tax credit, which will cause many taxpayers to owe taxes come April. The really-bad news didn’t quite make the story – the IRS charges penalties for underwithholding, so those who try to manage their withholding situation so the Treasury doesn’t get to use a lot of their money interest-free will want to consult their tax professional ASAP.

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