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I feel like I got taxed more than I should have.?
At my new job, I worked 9.57 hours at $7.25/hr. Nothing was taken out for Federal Income Tax, which squared with what paycheckcity.com's calculator figured. My second paycheck, I worked 69.38 hours at $7.50/hr. $38.62 was taken out for Federal Income Tax, while according to paycheckcity, it should only have been $22.09. My state is Pennsylvania. I am 99% certain I put a "1" in the number of exemptions row. Any advice is appreciated!
3 Answers
- Anonymous1 decade agoFavorite Answer
There are 2 ways to calculate FIT. Your company used the percentage method. When I use single 1, biweekly, I get $39.
IRS pub 15, page 38.
- Anonymous1 decade ago
Go recheck your W-4 with the employer. Paycheckcity.com is just an estimating tool.
- r_kavLv 41 decade ago
If too much is withheld, it will be refunded when you file your tax return next February.
