Form W-4V Voluntary Fed. Income Tax Withheld has a choice of withholding 7%,10% or more of benefits paid. My 2023 Form SSA-1099 shows the amount withheld is 9.3%. Why?

[SteamTrain · Accepted solution]

Maybe some rounding to simplify it at their end.

I checked my last two years (2022 and 2023), and it was 11.4% and 11.8% instead of exactly the 12% I had selected.

[SteamTrain]

Looked at my 2025 notice of what it's scheduled to be for me...it's scheduled to be 12.3%

ehh...close enough....

though, if Congress eliminates tax on SS benefits in the middle of the 2025 year, will they eliminate the withholding option entirely???   Or only effective for 2026 and beyond.  I'm not holding my breath on that.

[VolvoGirl · Accepted solution]

It's not an exact amount, just an estimate.  You can change it.  I don't have any withholding taken out of my SS.  

[jgltx6185]

Thanks.