How much in income tax should be coming out of my husband’s pension check? Is it taxed differently?
My husband retired in October of last year and we are really afraid they are not taking out the proper amount of income tax. We do not want to have to pay a large amount when we file our taxes. He is filing married with 0 exemptions. They are only taking out 2.7% in taxes and we are both fairly certain this is not correct. Is pension income taxed differently than regular income? Should we have them taking out a larger, fixed amount to be safe?
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September 3rd, 2010 at 9:35 am
I have 15% withheld out of my pension. He may have some non taxable portion, look at the 1099-R and it should show a different amount in Box 1 and 2 if any is not taxable
September 3rd, 2010 at 9:37 am
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