Pension W-4

Forum|Forum|5 years ago
January 19, 2021
1 reply
16 views

I'm applying for my retirement and trying to figure out the W-4 form they sent me. I'm also in the process of Social Security Disability Benefits and my wife is still working. Not sure what we should do on our W-4's.

Best answer by ErnieS0

Use our W-4 Withholding Calculator or the IRS Tax Withholding Estimator to help fill out your W-4s.

Generally, it’s a good idea to have some amount of tax withheld from a pension (and possibly Social Security) to avoid a big tax bill plus interest and penalties for underpaying tax.

Pensions are taxable and Social Security benefits are partly taxable if one-half of your benefits, plus (2) all of your other income, including tax-exempt interest, is greater than $32,000 if married filing joint.

ErnieS0Answer

Level 15

Use our W-4 Withholding Calculator or the IRS Tax Withholding Estimator to help fill out your W-4s.

Generally, it’s a good idea to have some amount of tax withheld from a pension (and possibly Social Security) to avoid a big tax bill plus interest and penalties for underpaying tax.

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