The Feb. 1 article, "Workers could owe more to IRS" touched only the tip of the iceberg! My husband and I have been aware of this situation for almost a year. Under the guise of reducing the percentage of taxes owed, people noticed their income increased as a result of Obama's stimulus plan. Wrong! What was really done, was tax withholding was decreased or eliminated completely.
We receive three retirement checks, two of those checks (the smaller ones) have absolutely no taxes withheld and the larger one has all of $100 a month taken out. Believe me, that amount will not pay our yearly taxes! (We did not change our withholding).
I have talked to other retirees who are in the same situation. Luckily we spotted this and have arranged to pay large quarterly payments. People who were unaware of this situation will have a huge surprise come April 15 when they find they have grossly underpaid and will also have to pay a penalty and interest.
Thanks to Mr. Obama, many of us are paying for his stimulus plan that he claims is working!
Cheryl Havranek
Layton
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