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Do I need to do anything differently with my tax return since receiving a bonus at work? It was a rather large bonus and more than half of it was reduced for tax.
I haven't received a bonus like this before and want to ensure I am getting back the correct amount. I was a bit disappointed to see how much was taken out of my actual pay due to taxes and was reassured I'd receive a portion back when I filed taxes, but I've ran through my return and it's the same I get every year. I feel a bit uneducated asking this question but just want to make sure I'm doing it right. My understanding is that the check that included the bonus was taxed so heavily because it moved me up to a different tax bracket where it looks like I make that much every paycheck and once I filed my return it would become obvious that I do not usually make that much and I'd get some of that bonus back.
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‎January 10, 2024
9:23 AM