How can I account for a $10k bonus I received which appeared on my paycheck (under wages in my W-2) and was taxed at a rate higher than the 22% flat rate?
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How can I account for a $10k bonus I received which appeared on my paycheck (under wages in my W-2) and was taxed at a rate higher than the 22% flat rate?
How can I account for a $10k bonus I received which appeared on my paycheck (under wages in my W-2) and was taxed at a rate higher than the 22% flat rate?
It is not taxed at a flat 22%.
The withholding (income tax that comes out of your paycheck) on a bonus could be subject to a flat 22%, regardless of your actual tax bracket, but the tax return still taxes that income at your regular tax rate.