So I am in quite the pickle.
Last year, I owed a decent chunk of change come tax time. To remedy that situation, I maxed out my 401K contributions and decided to withhold an additional $100 per paycheck (so, M-3, +100). I submitted the information to HR/payroll via our dumb ass portal and let it ride. I made the incredibly foolish error of not double-checking any of my paychecks, at all. I cannot describe how pissed I am at myself for that - lesson learned.
Why am I pissed might you ask? It turns out, Payroll changed my withdrawal to only withhold $100 for FITW, total. As I'm starting to do my taxes this year, I'm finally seeing the chickens come home to roost and wondering why I have a $13,000 tax bill. I take a closer look at W2s....what the hell.....and realize, "FUCK"!
I'm in the process of getting this all corrected, but I'm wondering what my options are. Of course, this is my cross to bear, so Payroll isn't going to give a fuck and isn't liable for anything (nor should they be, I suppose). $13K is a lot. I can pay it in one lump sum but I don't want my savings to take that big of a hit at the start of the year. Are payments an option? Do I have to pay interest if I choose that? If so, what does that typically look like? File an extension and withhold a fuckload more - does that do anything?
HALP!