What happens if your company stops taxing your income due to a keyboard error?

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What happens if your company stops taxing your income due to a keyboard error?

My company made me salaried. The payroll clerk exempted my income from Federal taxes. Now I'm faced with a huge tax bill and my company wants to take out the money out of my next 5 checks to help me pay the tax burden.

2007-02-13 04:56:46 · 2 answers · asked by Taxpayer 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

Since it's now 2007, the company taking extra out of your pay now won't do anything to help your 2006 tax bill. That would only count toward 2007, where you will probably be short again.

2007-02-13 05:02:21 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

Call the IRS and ask them. Your company may not be allowed to take that much out over such a short period of time.

2007-02-13 05:13:49 · answer #2 · answered by golden rider 6 · 0⤊ 0⤋