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New Member
posted Jun 3, 2019 11:05:20 AM

I retired in 2018 will i have to pay a penalty if i don't get my withholding accurate for 2019?

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3 Replies
New Member
Jun 3, 2019 11:05:22 AM

If you do not pay 100% of tax for the 2018 year or 90% of tax for the 2019 year, you could owe a penalty. But, if your overall tax owed is less than $1,000, there is no penalty.

New Member
Jun 3, 2019 11:05:23 AM

how do i calculate the needed withholding for 2019 ? I'm receiving social security, CSA retirement & a TSP annuity

New Member
Jun 3, 2019 11:05:24 AM

You can use the withholding calculator through the link below. Just treat each source of income as a "job". Also, your human resources department through the government should be a source of help for this as well.
<a rel="nofollow" target="_blank" href="https://apps.irs.gov/app/withholdingcalculator/">https://apps.irs.gov/app/withholdingcalculator/</a>