When using the online IRS Withholding calculator, I am prompted to enter a "bonus" if I received one. While I received a payment from an annual incentive plan (AIP), federal tax has already been deducted from it. So, do I enter the actual amount that was deposited or do I enter the gross amount, BEFORE taxes?
Thanks, in advance!
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Gross amount, before taxes. The taxes that are being withheld are to cover this expense and you need to find out if they're enough.
Thank you!!
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