topic Taxes withheld in my check in Retirement tax questions

Taxes withheld in my check

Kennydasilva — Mon, 02 Nov 2020 07:34:56 GMT

That could be in my refund

Re: Taxes withheld in my check

Critter-3 — Mon, 02 Nov 2020 13:44:46 GMT

Not sure what your question really is ... but depending on your total income you may or may not get some or all of the federal and/or state withholdings back in a refund when you file an income tax return.

FICA taxes ( social security and medicare ) are never refunded ... they are prepayment to your account so when you reach full retirement age you are eligible for medicare and SS benefits.

Re: Taxes withheld in my check

xmasbaby0 — Mon, 02 Nov 2020 14:48:30 GMT

Why doesn’t my refund match my W-2?

The amount you see in box 2 of your W-2 is not necessarily your tax refund. That box shows how much was withheld from your pay. But like many others, you have a tax liability to pay tax to the government. So the refund you get back is the difference between how much you have to pay according to your filing status, tax bracket, number of dependents, credits and deductions, etc. and the amount that was withheld.

Re: Taxes withheld in my check

fanfare — Mon, 02 Nov 2020 21:48:31 GMT

Taxes withheld go to the US Treasury. Only an overpayment, if any, would be refunded to you.