I just received my first pay check and I noticed some weird mistakes. It says Federal 2 and State 1. I noticed that the State deduction were more than the federal deductions. whats wrong with this picture. I don't even know what two means. This is like my first job.
2007-06-06 02:21:20 · 3 answers · asked by K.S 1 in Business & Finance ➔ Taxes ➔ United States
It's not necessarily a mistake. Depending on how much you make for the year and your tax status, you might pay very little or no federal income tax. And depending on where you live, your state tax might be more total than your federal.
Two means that you put two allowances on your W-4 form for federal - probably one for yourself, and one for just having one job, following the worksheet. The number of allowances on your W-4 controls how much is taken out.
2007-06-06 03:24:00 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Make sure you filled out your W-4 correctly; do the worksheet at the top of the form. It is not unusual for state wh to excede federal wh. Federal standard deduction is usually larger and there are credits that will offset federal tax moreso than states offer.
2007-06-06 02:58:02 · answer #2 · answered by acmeraven 7 · 0⤊ 0⤋
If you make less than about $9,000 a year you will get all back anyway, but if it really bothers you you need to fill out another W-4 form and make sure you only have 1 on it. You get this from Human Resources or a manager.
2007-06-06 02:36:35 · answer #3 · answered by TXBLKGRL 3 · 0⤊ 0⤋