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I am working full time but I’m eligible to collect a pension. On a former state job at age 55. I am confused on how to fill out the w-4 p ?

 
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ktran9
Employee Tax Expert

I am working full time but I’m eligible to collect a pension. On a former state job at age 55. I am confused on how to fill out the w-4 p ?

The IRS provides a tool to help you complete form W-4P and estimate the right amount of taxes to be withheld from your pension payments.  So, you don't have too much or too little federal income tax withheld in the next year. 

https://apps.irs.gov/app/tax-withholding-estimator

 

If you do not fill out form W-4P, federal law requires the pension plan to withhold federal taxes as if you are single with no adjustments.

 

 

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