It depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax. The amount of tax withheld also depends on many other things...obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be required), as well as your filing status, number of dependents and other deductions (like interest on a mortgage) or contributions to 401K, or medical slections. All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to. The variations are so numerous that it is fair to say that it would be uncommon for 2 people, working a the same job making the same salary would have the same amount withheld. There are even a number of different legal ways for the payroll provider to calculate the amount to withhold...but overall they make only a small difference. Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty and interest charges). Again, adjusting your W-4 is the way to correct for any of these circumstances.
In 2009, the IRS set annual Social Security wage base limit at $106,800 at 6.2%. That would make the maximum FICA withholdings $6,621.60.
45 percent
The IRS can garnish your wages if you owe the government back taxes or defaulted on your student loans. They can take as much as it takes to pay off the debt.
1040EZ Tax form The 1040EZ is a simplified form used by the IRS for income taxpayers that do not require the complexity of the full 1040 tax form. Simply select your tax filing status and enter a few other details to estimate your total taxes for 2010. Based on your projected withholdings for the year, we then show you your refund or the amount you may owe the IRS next April 2011. Please note that this calculator uses the 2010 preliminary tax tables subject to change by the IRS.
I know it seems like forever but it takes just short of that. If it shows on the IRS website that it is received then it shouldn't be much longer. Normally I tell people it takes about 90 days for the IRS to process an amendment. Sounds like your very close though.
In 2009, the IRS set annual Social Security wage base limit at $106,800 at 6.2%. That would make the maximum FICA withholdings $6,621.60.
The IRS withholding calculator can be found at http://www.irs.gov/individuals/article/0,,id=96196,00.html Your state may have its own website to determine state withholdings
The IRS just released the figures for 2011 and they will be $16,500.... unchanged from 2010.
First off, why is this in Call of Duty topics? Second, The IRS takes care of Taxes.
45 percent
Whatever you can prove. (Not being sarcastic.)
It takes 7 years to become a lawyer. Plus some accounting classes for IRS.
An IRS wage levy is where the IRS takes a portion of a paycheck towards money owed to them. To read more about the levy process one can go to the IRS online website and find out more details.
Believe it or not the federal income tax system is a voluntary system. The government relies on employers sending in employee withholdings, and taxpayers sending in estimated payments.
IRS form 1065 is a tax return for business partnerships. This return calculates the business income and splits it between the partners based on percentage of ownership.
1040 Tax Estimator Enter your filing status, income, deductions and credits and we will estimate your total taxes for 2010. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April 2011. Please note that this calculator uses the 2010 preliminary tax tables subject to change by the IRS.
1099-G or Form 940 - Yearly