• partial_accumen@lemmy.world
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    5 months ago

    If you get a bonus, that might be taxed withheld at 50% because payroll is too lazy to figure out your taxes. You get the remainder back when you file your taxes. (Note this may mean you owe $200 at the end of the year instead of owing $1000. That still counts as you “getting” $800.)

    One very slight correction in bold.

    • Feyr@lemmy.world
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      5 months ago

      Also it’s 22% and it’s not solely because payroll is lazy. It’s actually set by federal statute