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Why do you have zero federal withholding? That is only appropriate if your weekly salary is $266 or less (for single status) or less than $532 if married and your spouse does not work. (The threshold will increase a bit if you have children under age 16.)
Did you claim exempt on your W-4? You should never do that unless you are legally exempt from taxes. You should report your actual filing status and use the worksheets for married, kids, and number of jobs, and let the system calculate the right amount.
You will have to ask your employer about your bonuses or wait and see. The IRS has two formulas the employer can choose from for withholding on bonuses. One will follow your W-4 and the other will not.
I appreciate your responding. Prior to working for this company I was always 1099 & I’m going on my 3rd year as W2. Last time I was W-2 was back in 2000 & the W-4 form was completely different back then. I’m single & no dependents.
so federal taxes, currently takes out the bare minimum approx $132 wk. I owe $2560 in federal taxes, ( which is not that bad ) I would like to have more federal taxes, withheld and update my W-4 form, just like to know if they would withhold extra from my bonus paychecks as well
thanks
I apologize, when I said, I do not have any federal taxes withheld. I meant on the W-4 form I filled out when I first started back in 2021 I did not put a dollar amount on the line. I did not file exempt.
last year, I filed my taxes myself online and owed 1500 in federal taxes. They take out the bare minimum. an accountant on TurboTax told me I should put minimum $50-$100 federal withholding on my W-4 form moving forward. my main question was if it affected my bonus checks
I get paid salary week & also get btwn 3-4 bonus Cks per month.
THANKS AGAIN FOR RESPONDING AND YOUR HELP! I really appreciate it!
Simple answer: yes. Or, more accurately, they should. Bonuses are usually subject to a 25% withholding rate. But you say you get several during the year. In that case, they may get treated just like weekly checks. As the other reply said, you may have to ask your employer, or wait and see, then adjust as needed.
you’re correct the majority of my Bonus checks the current federal withholding has been 25%.
then my weekly bonus checks which are min $150 gross they’ve only been taken out 9% Federal.
thanks again I greatly appreciate all your help
Ask your employer. If you say on your W-4 that you want extra federal withholding from your paychecks, then likely they will do that for every check. No matter whether they do or not......when you prepare your tax return, if you have had more tax withheld than your tax liability, you will get a refund. If you have not had enough withheld, you will owe the IRS.
https://www.irs.gov/individuals/tax-withholding-estimator
https://www.irs.gov/pub/irs-pdf/fw4.pdf
I did ask my employer he’s the one who told me to ask an accountant about the W-4 federal withholding if it will affect my bonus paychecks as well. I will just call his accountant in the morning.
I understand I will get a refund if they withhold more rather than owing, for not withholding enough. Once again, I sincerely thank you for all your help and taking the time to answer my questions. Have a great day!
As I said originally, there are two formulas that the employer must choose from to withhold taxes on bonus checks. One formula is a flat 25%— if the employer uses this, they will probably not take an extra amount as specified on the W-4. The other formula is to treat the check as if it was a regular weekly paycheck and apply the W-4, which includes a baseline amount based on your salary and filing status plus any extra amounts that you request.
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