If I made $24,000 gross income, and I claimed myself, and had $4,300 taken out for taxes should I receive anything back? Also when I sign up to get my taxes electronically does that mean I have to get them filed over the internet?
2006-12-11 19:19:06 · 1 answers · asked by sbravens35 2 in Business & Finance ➔ Taxes ➔ United States
You will have taxable income of $15,550 after the exemption and standard deduction. Tax on that is $1,959. If the $4,300 is only federal withholding (it seems awfully high) you will get a refund of over $2,300.
Before you spend it all, double check your latest paystub and see what your FEDERAL withholding is. You cannot get FICA (usually called OASDI and MC on your paystub) back. Well, sometimes you can, but I can tell you that you definitely do not qualify. State is a different calculation altogether.
2006-12-11 22:46:51 · answer #1 · answered by skip 6 · 0⤊ 0⤋