someone told me that the taxes that you pay in your pay check, you get payed later on in the year by the state, is that true ??
2007-03-17 02:38:22 · 5 answers · asked by x0x0sara0x0x 3 in Business & Finance ➔ Taxes ➔ United States
Taxes are due when the income is earned, that's why money is withheld from your paycheck. You settle up once a year at tax time by filing a return. If you've overpaid, you get a refund. If you've underpaid, you send them a check for the outstanding balance.
2007-03-17 02:58:57 · answer #1 · answered by Bostonian In MO 7 · 3⤊ 0⤋
Not usually. Sometimes more is taken out of your paycheck than you end up owing in taxes - if that happens, the extra would be refunded to you if you file a proper tax return. This could be federal or state - state would refund overpayments on state taxes, and the IRS on federal taxes.
2007-03-17 18:00:11 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
wow, are you confused. Federal and state taxes come out of your pay checks. At the end of the year you fill out your taxes. What was taken out may cover those taxes, If taxes are more, you pay the governmet, if taxes are less than what was withheld, the govt. sends you a check for the difference.
2007-03-17 09:42:40 · answer #3 · answered by Anonymous · 4⤊ 1⤋
If you find that you over paid your Federal and State taxes, you can ask for a refund on your tax returns.
2007-03-17 09:48:19 · answer #4 · answered by Yellow Tail 3 · 1⤊ 0⤋
No. Depending on your situation, you may be entitled to a refund. But you have to fill out a tax form, first.
2007-03-17 09:42:44 · answer #5 · answered by regerugged 7 · 1⤊ 1⤋