2006-11-15 03:56:38 · 7 answers · asked by natefoster1 2 in Business & Finance ➔ Taxes ➔ United States
Because, since you are married, you will file married filing jointly, which has a larger standard deduction, and you get your spouses personal exemption also. Therefore, you will presumably owe less tax, so they take less tax out. Kinda nice.
2006-11-15 04:00:21 · answer #1 · answered by Dana B 2 · 0⤊ 0⤋
It should not have decreased unless someone (you or someone in the payroll department) added a dependent to your tax information. The more dependents one claims throughout the tax year, the fewer the dollars are withheld from payday to payday. It all catches up when one files their taxes though. And now, there is a tax penalty if one claims a number of dependents during the year that doesn't match final tax forms submitted to the IRS. If someone changed your exemptions without your knowledge, it could be a crime --I'd check it out some more.
Good luck
2006-11-15 12:03:46 · answer #2 · answered by stretch 7 · 0⤊ 0⤋
The withholding tables assume that you are now supporting two people at the same salary. They do not account for the fact that your spouse may also have income. Because of this, it is very common for a married couple to owe money when you file your return. If your spouse also works, you may want to adjust your withholding for 2007. The generally rule of thumb is that the lower income spouse should claim "Single - 0" but it depends on you personal situation.
2006-11-15 12:08:25 · answer #3 · answered by Wayne Z 7 · 1⤊ 0⤋
You need to ask someone in HR if you didn't submit a new W4 after you were married. The lower tax rate (from Single to Married filing joint) is an assumption you WILL file jointly.
I am married filing separate- a tax bracket that's HIGHER than just Single. But it protects me from my spouses IRS game playing and current tax liability.
If you trust your spouse 150% then go jointly. Complete a new W4 with HR.
2006-11-18 10:49:55 · answer #4 · answered by upside down 4 · 0⤊ 0⤋
The single tax rate is higher than the married rate. You can also claim her as a dependent.
Ask your HR department for IRS form W4 and do your own calculation to make certain you are withholding the correct amount. This is particularly important if your spouse is working, you have children, or plan to itemize your deductions.
2006-11-15 11:58:43 · answer #5 · answered by Plasmapuppy 7 · 0⤊ 0⤋
Did you update yoru W4 or did your employer do it for you? When you are married you claim a higher exemption than a single person. Same with having kids. Nice, eh?
2006-11-15 12:01:44 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You must have completed a new form W-4 and given it to your employer.
2006-11-15 12:25:33 · answer #7 · answered by waggy_33 6 · 0⤊ 0⤋