I would like to know if there is a chart or list to see how much % we need to pay for every dollar we earn. I know that the more you earn the more taxes you pay but it seems to me a little to much to pay 19% for 700 a week...and it is only for one week that I received a bonus!!!
2007-10-08 05:16:49 · 3 answers · asked by Cici 2 in Business & Finance ➔ Taxes ➔ United States
Sounds about right. Download Publication 15, circular C at irs.gov - it will give you the info on how much gets deducted. How it works is that tax is deducted from any given paycheck like you make that amount every paycheck. At the end of the year, it all rolls together on your W-2 and you calculate your tax on the annual total. If too much was deducted from one paycheck, it'll be refunded to you when you file your tax return.
2007-10-08 06:07:36 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
Sure, they can take out tax if they pay you with cash or a personal check. And in most cases they are required to, although some sleazy employers don't. In any case, if taxes are being taken out, you should get a paystub or some kind of record for each check of what is being taken out and for what. If you aren't getting that, ask for it. If you still don't get it, you are probably right to be suspicious that your employer is just pocketing the money he takes out - that's illegal of course, and would be stealing from you, but unfortunately it does happen. Ask if you will be getting a W-2 in January. If he says no or seems evasive about it, you can report him to the IRS - and it would also be a good idea to look for a different job. Good luck.
2016-05-18 23:49:42 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Don't worry about it. You will get the excess back as a refund when you file your tax return. Your total taxes for the year, after refunds, are based on your total income, without regard to whether it was evenly distributed.
2007-10-08 07:11:08 · answer #3 · answered by StephenWeinstein 7 · 0⤊ 0⤋