Federal taxes withheld from paycheck
My husband and I are 65 and 64 years of age and are still working full-time. My husband also has a pension from the Postal Service. We both claim 0 exemptions for our salaries but it seems like we are not having enough federal taxes withheld. (It looks like only around 10% is being withheld) Since 2017 we have owed an average of $2000 yearly on our federal tax return when prior to that we always got a refund. Does this have something to do with our ages?
Terry Says
No, it has nothing to do with your age, but your employer can only withhold so much from your wages. Other income is taxed either by having withholding applied to his pension check or by making quarterly estimated tax payments.
