Be sure to submit a new IRS Form W-4 Tax Withholding to your employer as soon as possible so that the extra money for that newly added $16K Fed & State tax delta starts coming out of your pay check (it's unlikely the IRS would charge you with an underpayment penalty, but getting a new W-4 in place right away mitigates that already low risk to near-zero). My employer's 3rd party paycheck processing company allowed this to be done online, but you might have to download a form and hand it in to the HR rep that covers your group of personnel.That's an excellent point about the high tax burden post-divorce. I hadn't even considered that. So more will be going out of my paycheck and I need to account for that in my future spend. Oh fun. Looks like my taxes will go up ~16K for a 260K income filing as single compared to MFJ.
Statistics: Posted by bonesly — Tue May 28, 2024 12:39 am — Replies 18 — Views 2268