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I'm taking a withdrawal this year do i put that on my taxes for last year? Even though it's 2017
My wife took out under 30k and subtracted 8k and they took out the 20% and still IRS asking for money!!! Now they are asking for us to pay 11k back to the IRS. This is stupid and another reason taxes suck.
She had 8k withheld, along with another 20%, which is 6k and you still owe 11k?
There must have been a lot of other taxable income without sufficient withholding for that to happen.
Similar to unemployment, when they suggest how much you should withhold, this suggestion will almost never be accurate. There is no exact science because they have no idea about the remainder of your household income.
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