Step 2(b)(ii) But what does "pay less annually than this one" mean? This means for the pension you are filling this form out for, is it more than your other pensions.
Step 4(a) is where I enter our total taxable Social Security income, correct? Yes, this is where you would enter your total taxable Social Security. Depending on your pensions and total Social Security, this could be up to 85% of your total benefits received.
Do I mail identical Form W-4Ps to each of our pension payers and Social Security? I understand that my wife's name and SSN would be on her W-4P, but otherwise the data would be the same, correct? Possibly. If one pension is more, Step 2 may have different numbers on it as only one would be the highest paying pension. You also may not want to have the same "extra" withholding in step 4 withheld on all pensions. So the data may be different in section 2 and 4.
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