Question:

Taxes off my paycheck and mroe taxes?

by  |  earlier

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I pay federal, medicare, social security, and AZ withholding tax (i live in arizona). These taxes come off every paycheck.. so i still have to pay more taxes on tax day? that sucks if i do.. i make about 30,000 a year.

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4 ANSWERS


  1. Welcome to the world of the overtaxed working class.  The government thinks we are rich and should share our wealth.


  2. I'm not sure you understand just what a refund is.  Through the year you have money withheld from your paycheck for federal income tax.  At the end of the year, you prepare a form called a tax return to calculate how much tax you owe total for the year, and compare that to what was withheld.  If you had more withheld than your total tax, you get the extra back as a refund.  If you didn't have enough withheld, you have to pay the rest rather than getting a refund.

  3. Maybe.  Or you may get money back.  If the amount taken from your paychecks was less than your tax for they year, you pay the difference.  If the amount taken from your paychecks was more than your tax for the year, the difference is refunded.

  4. If you do not have enough income tax withheld, you will have to send a check in April.  At $30,000 per year, I suspect most people's withholding will be adequate.

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