SV reX
MegaDork
1/8/24 1:16 p.m.
My first weekly paycheck for the year came in… $200 light.
I asked HR what’s up, and they said the tax tables have changed for 2024.
That’s a $10,000 difference!!
WTF???
(I have not reviewed the details yet)
Anybody else seeing massive changes?
mtn
MegaDork
1/8/24 1:31 p.m.
I haven't had my first paycheck of the year yet, but I thought the brackets increased, but the percentages were the same? Unless it's a state tax or bonus related, sounds like payroll messed something up for you. Or you need to resubmit your withholding.
I've already done a payroll with the new tax tables, and across the board all our paychecks went up, all in the neighborhood of $5. So that sounds off. Did you have a new payroll deduction effective 1/24? Maybe IRA? Definitely sounds like you need to scrutinize that pay stub, and if it's withholding, second the opinion that you need to have your payroll folks refer back to your W2 or give them a new one.
Margie
Doesn't seem like the tables changed much on the Federal level - if anything it looks slightly better as it keeps rates for higher incomes. Did anything change from the state or local? Health insurance premiums?
SV reX
MegaDork
1/8/24 1:53 p.m.
I went through the detailed paystub. The FWH increased by 141%.
Sounds to me like they are reading the bi-weekly tax tables instead of the weekly ones.
They also withheld GA SIT and GA SUTA. I don't live in GA.
Somebody screwed up.
SV reX
MegaDork
1/8/24 1:54 p.m.
All the other withholding details (insurance, 401K, etc) remained the same.
Glad you got to the bottom of it!
SV reX
MegaDork
1/8/24 1:56 p.m.
In reply to WonkoTheSane :
Haven't reached the bottom yet!!
The last paycheck of the calendar year is always higher than the first paycheck of the next calendar year, for me anyway. Three reasons: Typically, raises hit around late October. Also, the last couple of weeks of the year are when the retirement and HSA contributions even up/ square out, so there's less taken out once I hit my numbers for those for the year. Finally, health insurance premiums increase every year, and the new rates hit Jan. 1.
For example, my 1rst check for 2024 was about $300 less than my last one for 2023. I get paid biweekly, so that's about $150 per week difference.
EDIT, sounds like you found the source of the berkeley-up, but my above comment might still be useful.
My california taxes went up. Making the same and my pay is down by $140 a paycheck. I hate having a position based out of that state.
SV reX
MegaDork
1/8/24 2:10 p.m.
In reply to volvoclearinghouse :
No, my gross pay was exactly the same, and all the withholdings are identical except for the FWH.
SV reX
MegaDork
1/8/24 2:12 p.m.
I'm a little concerned that the new payroll amount may be right, and that the old one was screwed up (which means I am gonna get hit with a massive tax liability for 2023)