Saturday, August 22, 2009

Making Work Pay - Update for Pension Recipients

You can watch this video provided by the I.R.S.

The Internal Revenue Service has released new withholding adjustment procedures for pension plans on May 14. This is supposed to alleviate the problem of not enough being held out of pension checks. However, there is still a problem since pension payors are not required to use this new procedure and may continue to use only the February 2009 withholding tables. It is our suggestion that you contact your pension plan and see if they will work with you and get your withholding back to about what it was in January. That should be the answer.

Call us if you need help.

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