I am about to reenlist and I've read on a few sites that they automatically withhold 25% which is where my confusion sets in. As I understand it, I will be receive half of my $65,000 upfront and the other half over the next 5 years. Will they tax the entire $65,000 right away, or only the half I receive upfront? If they tax the entire thing, does that mean I will be double taxed in future years when I go to file my taxes?
Orignal From: How much tax will be withheld from my reenlistment bonus?
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