I am 65 and retired from federal civil service and I am now receiving my FERS retirement pension. When I look at my statement only $25/month is being taken out in federal tax! I am having another $25 additional taken out but even $50 doesn't seem like enough. I am also having $25/month withheld for Oklahoma state tax.
I have looked all over online but cannot find a clear answer on how much I should have withheld and I don't want a big tax bill at the end of the year.
Here are my numbers in the attachment. (I have omitted personal information.) I am married filing jointly.
How much tax should be withheld from my FERS Pension?
I will also include our social security monthly for my wife and I combined is $3477.60 and we each have 10% taken out in federal tax.
Thanks, Joe
I have looked all over online but cannot find a clear answer on how much I should have withheld and I don't want a big tax bill at the end of the year.
Here are my numbers in the attachment. (I have omitted personal information.) I am married filing jointly.
How much tax should be withheld from my FERS Pension?
I will also include our social security monthly for my wife and I combined is $3477.60 and we each have 10% taken out in federal tax.
Thanks, Joe
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