Re: TSP Installment payment withholding error - HELP!
Since the specific dollar amount withholding option doesn't work, perhaps:
- Initiate withholdings based on 0 deductions.
- If that is withholding more than the 20% change to 1 deduction,
- Rinse and Repeat till you get to near the 20% tax desired.
That way you will likely withhold a little more than 20% over the year - because of the first few months being over-withheld.
Anyway, you are just wasting time with the helpdesk. If their program isn't working it won't work. And, the 'wait till next month' comment was just to get you off the phone. They cannot do anything as evidenced by them asking you to clear the cache.
Anyway, where did the 20% withholding ratio come from? If I were you I would either have my tax dude(tte) figure out what my taxes will be for 2022 or just plunk the numbers into TurboTax (or whatever) and get a real number. Since 2017 Federal taxes have been a simple process. It is almost a flat tax now. You really don't have to guess. GlobalPack's idea is probably the route I will take, but we all have our own preferences.
Lookin' up at the 'G Fund'!!!
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