When you do your taxes what do you get back the...?

Question

The state income tax or the federal tax income withheld? I know I am just completly confused I am doing my taxes myself for the first time and I just got my W2

Answer 1

When you do your Federal return, you'll get back the extra Federal amount you paid in. When you do your State return, you'll get back any extra money you paid to your State.

Of course, if you didn't have enough withheld, you might have to write a check or two.....

Taxes can be confusing, but with the software available today I'm sure you'll do just fine. Just take your time, read the directions carefully, and be sure to look at the IRS and Your State's websites...there's lots of help to be had. Good luck!

Answer 2

Follow the instructions, fill out and file the right forms completely and correctly. The amount of your refund will appear on your tax returns, bottom of the second page of the 1040 or state return, or the first page if you are using an EZ form. If you mail it in, the refund check will be mailed to you at the address on your return, unless there is a problem with your returns. In that case, you will get a letter at some point saying what the problem is.

If you file electronically, which the IRS and states having income taxes are recommending, you can have the check electronically deposited in your bank account (much faster) or you can have the refund mailed to you.

If you can afford it, use one of the tax preparation software packages. I prefer TurboTax, but you can check them out on the web and at Consumer Reports.

If your income is under a certain amount, you can file electronically and prepare the returns online.

Answer 3

The amount of money withheld depends on what you put on your W4 form when you were hired. It depends on how much you get paid, how often, marital status, # jobs, # kids, etc...
I'd suggest if you are confused, try a tax software for ~$20 (Turbotax, Taxcut) - they generally do all the work for you.