Recently, I got a lump of 90 hrs of OT payed. Due to an input error...It was over time from 3 bi monthly pay periods. Did I get taxed more for the one time, 90 hr OT payment, Than I would have if it was split up in 3 paychecks? As it was supposed to be payed.
2007-02-17 11:00:29 · 2 answers · asked by shortline1 1 in Business & Finance ➔ Taxes ➔ United States
Not in the long run. It's very possible that the tax deducted from your paycheck will be larger than it would have if the payments had been spread out, but you'll get any extra back at the end of the year when you file your tax return for the year - your refund will be larger by whatever amount was taken out extra.
2007-02-17 11:06:57 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Probably, but it will all work out when you file your tax return.
2007-02-17 12:54:40 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋