No, you will not be taxed twice.
The Process: The payer of your pension is taking taxes based on the W-4P you completed for them. When your return is completed with all income, deductions and/or credits the tax liability is determined. Once that happens it is reduced by any payments through the withholding you have already paid. The difference will be either a balance due or a refund. This applies to both federal and state.
You can complete this as many times as you need to in any year to change your withholding if necessary for the pension plan administrator.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
