Sign up, and you'll be able to ignore users whose posts you don't want to see. Sign up
Dec 11, 2024
11:23:28am
Greg Kite's 'stache All-American
Worst case scenario is that the applied withholding rate is too high and the employee gets a refund when they file taxes

At most the extra funds will be held by the IRS for a couple of months depending on how quickly the employees file their 2024 tax return.

As has been stated before, there is no incremental tax hit, just an incremental tax withholding.  This incremental tax withholding will either reduce the payment the employee has to make in 2025, or increase the return they get.  It's just a question of a few months.

Greg Kite's 'stache
Bio page
Greg Kite's 'stache
Joined
May 18, 2011
Last login
Dec 12, 2024
Total posts
8,419 (451 FO)
Messages
Author
Time

Posting on CougarBoard

In order to post, you will need to either sign up or log in.