Tax question.....?

Question

My company got back money from the irs...Is some of that money mine its from our taxes...Please answer...

I work for a chiropractic clinic...our office manager recently left and we have some one else doing the payroll taxes...she recieved a check from the irs for our payroll taxes and i dont know if it was because we over paid.

Answer 1

Your taxes that are withheld from your pay are reported to you on a form. In the US, it's a W2. Your amounts will be reported exactly to you on your payslips. You can compare the totals from the payslips with the totals on your W2. If the totals match, the next step is to take the W2 to a tax accountant to determine how much refund you may have, if any.

Your boss gets to do the same thing on a company-wide scale. The company pays employment taxes, income taxes, sales taxes, and other taxes. They then file returns and sometimes get refunds, just like you do. The company refund belongs to the company, not to you. If it's a really large amount, a particularly nice boss may give out bonuses (taxable to you!), but usually companies use windfalls to fund other aspects of the business instead.

Answer 2

What kind of business. Who owns it. not enough here to answer a question