tax question

[Adidas410s]

If 38% of your taxable earnings are deducted from your paychecks throughout the year...but your AGI falls within the 25% tax bracket...is it safe to assume that (disregarding all other factors) you will receive the 13% extra in taxes that you paid back as a refund?

[olddawggreen]

I don't think it works that way. That would make way too much sense for the IRS to let it happen that easy:doh:

[rangerjim]

how much you get back depends on how you filled out your W-4 when you started work. I can't remember exactly if you show more dependants or less if they take out more money. Basically you can decide with your W-4 if you want to get money back at the end of the year or if you want it every two weeks (if thats how you get paid) - a little at a time..

get with your personnel folks if you have them and they can explain it better. You can adjust your W-4 at anytime I believe

[Adidas410s]

my w-4 says single/0...as will my tax returns. They take the most money out every 2 weeks if you're single/0...the least money out if your married/10+ dependents.

[ASUFrisbeeStud]

Originally posted by Adidas410s
If 38% of your taxable earnings are deducted from your paychecks throughout the year...but your AGI falls within the 25% tax bracket...is it safe to assume that (disregarding all other factors) you will receive the 13% extra in taxes that you paid back as a refund?

I think you're right for the most part.

What is the standard deduction for your bracket?