taxes question, THE GOVT> SCREWD ME!!!$!%! AHHHH !

[Cuda1447]

Aight so I got a quesiton. And it may turn into a rant.


I worked for Publix for 3 months or so. (Ya the place sucked) I got my W-2 form back and it says I made a total of 1589.93. Sounds about right. The thing is it says the Federal income tax withheld is only 20.87, which is the amount I will get back since I don't make over whatever amount it is you have to make. The problem is I know I had well over 20.87 taken out and I dont know where it all went!

Basic rundown of W-2 form. Total made 1589.93. Federal income tax withheld 20.7. Social security tax withheld 98.57. Medicare tax withheld 23.05. One sample of my paycheck says Earnings 94.12. Fica deduction 7.20. So I assume the withheld 7.20 and dispersed it between the three categories on my W-2 form. Basically what Im wondering is if I got screwed some money here that Im supposed to get back or what.


I don't really know anything about taxes yet, so any help would be appreciated, thx in advance.

 

[GtPrOjEcTX]

maybe ask in CPA's thread?

http://forums.anandtech.com/messageview.cfm?catid=38&threadid=1220638

 

[Lithium381]

can't you check your paycheck stubs? doens't it say on there how much was withheld?

 

[Jeraden]

Well FICA is social security (6.2%) and medicare (1.45% or something). So thats correct on your earnings of 94.12. They go in boxes 4 an 6 of your W2. FIT withheld is something different and goes in box 2. Did you have no FIT withheld out of that 94.12? Depending on your earnings and what you put on your w-4 when you first started working, 20.87 might be correct for FIT withheld, although it seems a bit low.

 

[rudeguy]

read through CPA's post...sounds like you might be in a similar situation as me. My employer messed up my I9 (the form that tells them what to withhold from you.) Instead of claiming 0 dependants plus ten dollars a week, they put me down for having 10 dependants.

Goodbye refund, hello tax bill

 

[Cuda1447]

Originally posted by: Lithium381
can't you check your paycheck stubs? doens't it say on there how much was withheld?

I didn't save all my paycheck stubs, I only have random ones laying around. What can I do to get this all sorted out?

 

[Cuda1447]

Originally posted by: Jeraden
Well FICA is social security (6.2%) and medicare (1.45% or something). So thats correct on your earnings of 94.12. They go in boxes 4 an 6 of your W2. FIT withheld is something different and goes in box 2. Did you have no FIT withheld out of that 94.12? Depending on your earnings and what you put on your w-4 when you first started working, 20.87 might be correct for FIT withheld, although it seems a bit low.

It says nothing about FIT. I guess that means I didn't have any held? Also if it helps on the top of my stub it has Dep. Claimed as 1, that being myself.

 

[cpals]

Originally posted by: Cuda1447

Originally posted by: Lithium381
can't you check your paycheck stubs? doens't it say on there how much was withheld?

I didn't save all my paycheck stubs, I only have random ones laying around. What can I do to get this all sorted out?

Check and see what the average amount taken out was?

Oh yeah, Publix doesn't suck...

 

[AvesPKS]

Originally posted by: Cuda1447

Originally posted by: Jeraden
Well FICA is social security (6.2%) and medicare (1.45% or something). So thats correct on your earnings of 94.12. They go in boxes 4 an 6 of your W2. FIT withheld is something different and goes in box 2. Did you have no FIT withheld out of that 94.12? Depending on your earnings and what you put on your w-4 when you first started working, 20.87 might be correct for FIT withheld, although it seems a bit low.

It says nothing about FIT. I guess that means I didn't have any held? Also if it helps on the top of my stub it has Dep. Claimed as 1, that being myself.

If there isn't a portion on your pay stub that says FIT, then it wasn't withheld, because FICA isn't FIT, as was stated previously. And if you made no changes to your tax status, then all your other pay periods should be the same, and no tax was withheld.

 

[Cuda1447]

Originally posted by: AvesPKS

Originally posted by: Cuda1447

Originally posted by: Jeraden
Well FICA is social security (6.2%) and medicare (1.45% or something). So thats correct on your earnings of 94.12. They go in boxes 4 an 6 of your W2. FIT withheld is something different and goes in box 2. Did you have no FIT withheld out of that 94.12? Depending on your earnings and what you put on your w-4 when you first started working, 20.87 might be correct for FIT withheld, although it seems a bit low.

It says nothing about FIT. I guess that means I didn't have any held? Also if it helps on the top of my stub it has Dep. Claimed as 1, that being myself.

If there isn't a portion on your pay stub that says FIT, then it wasn't withheld, because FICA isn't FIT, as was stated previously. And if you made no changes to your tax status, then all your other pay periods should be the same, and no tax was withheld.

So FICA isn't refunded? Alright well I have another question.


My girlfriend worked there alot longer then me, so made a bit more money. She made a total of 5866.72 or so, and her federal income tax withheld was 379.80. So why was her percent withheld so much higher then mine?


*edit* OK so I just checked with my girl and she is taxed Fica and Federal I guess. So I suppose thats where the difference comes in? I basically wasn't taxed federal tax and she was?

 

[BrunoPuntzJones]

Yup, FICA is pissed away. Medicare, Social Security, weeee. The C stands for Contributions if it makes you feel any better.

6.2% and 1.45%=7.65% total. Your 1589.93*0.0765=your 98.57 and 23.05

Sounds like you ain't got no FIT deduction. You probably don't owe anything, and probably don't get anything back (if you are a student, or capital gains or something with some 0's behind it).

Your GF's % was what she told them to take out on her W4 (dependants, etc.)

I have an exact amount taken out on mine, I come to the threshold of being fined for underwitholding. No sense in not keeping what I can and earning interest on it until the last second.

You'll never see that 121 that was taken out, it goes towards the old folks, it'll be gone when you get ready to use it. Thanks for playing 🙂

 

[Cuda1447]

Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

 

[Ns1]

Originally posted by: Cuda1447
Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

taxes are the price you pay for a civilizied society

citizens want everything but don't want to pay for it

 

[Feldenak]

Originally posted by: Cuda1447
Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

Taxes were here long before Bush. IIRC the income tax you know and love started because of WWII.

 

[Cuda1447]

Originally posted by: NeuroSynapsis

Originally posted by: Cuda1447
Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

taxes are the price you pay for a civilizied society

citizens want everything but don't want to pay for it

Ya but a good amount of the taxes we pay is wasted...

 

[BrunoPuntzJones]

Originally posted by: Cuda1447
Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

You didn't get screwed, you didn't pay anything. Nothing went to the Army, nothing went to the Endowment for the Arts, nothing. 100% of what you paid was for Social Security and Medicare. Tell gramps he's welcome next time you pass him at the bingo parlor. Imagine if you were making 50k, would be paying almost 4k just in that stuff. Add in your FIT and you're well over 10k in tax. Oooh, what's this? State income tax? Sales tax? Property tax? Did ya know that gasoline is almost (well was anyway) 25% tax? Was like $0.37 a gallon a few years ago.

But hey, I'm sure there are some Dems who will say you are rich with that whopping 1600 smakaroos! 😛

 

[Cuda1447]

Originally posted by: BrunoPuntzJones

Originally posted by: Cuda1447
Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

You didn't get screwed, you didn't pay anything. Nothing went to the Army, nothing went to the Endowment for the Arts, nothing. 100% of what you paid was for Social Security and Medicare. Tell gramps he's welcome next time you pass him at the bingo parlor. Imagine if you were making 50k, would be paying almost 4k just in that stuff. Add in your FIT and you're well over 10k in tax. Oooh, what's this? State income tax? Sales tax? Property tax? Did ya know that gasoline is almost (well was anyway) 25% tax? Was like $0.37 a gallon a few years ago.

But hey, I'm sure there are some Dems who will say you are rich with that whopping 1600 smakaroos! 😛

Well I didn't get screwed as much as you guys, but still a little 🙂 We all get screwed! I say we revolt!



j/k of course, its just something I gotta leave with.

 

[EagleKeeper]

Originally posted by: Cuda1447
Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

You did you get to work. Walk?

If you used a paved road, that was paid by your taxes.
Who pays for the police and fire - you via your taxes.

Looks like your taxes do help you :Q

 

[dabuddha]

Originally posted by: Cuda1447

Originally posted by: NeuroSynapsis

Originally posted by: Cuda1447
Dude I got screwed, tax bites and bush sucks. All that money went to the fricken army probably! ARGHYALYTEOAY!

taxes are the price you pay for a civilizied society

citizens want everything but don't want to pay for it

Ya but a good amount of the taxes we pay is wasted...

What are you, 15?

 

[dullard]

Social security + medicare taxes are about 14.5% of your total income (as long as you make under $85,000 - or some number close to that). Half of that is paid for by Publix and you never saw it. So Publix actually paid a total of $1589.93 + $98.57 + $23.05 to employ you. You only see the $1589.93 which is your hourly wage * number of hours worked. The other half of the 14.5% tax you must pay for - and there is no method of getting it back until you qualify for social security or welfare. So the $98.57 + $23.05 that was taken out of your paycheck is gone. Note: this is why I argue that the poor DO pay taxes even if their income tax rate is 0% - many people convienently forget the 14.5% payroll tax and argue that the poor pay nothing. As you pay more and more social security tax, you will gain credits. With enough credits (which is very easy to get after a few years of full-time work) you qualify for the full social security benefits when you retire. People your age are expected to get about a 2% interest on the social security money they paid in throughout their lives. So don't think of it as missing money - just think of it as an investment (not a high earning investment, but still an investment).

The $20.70 you paid in federal income tax should all come back to you. Just fill out your taxes (a quick 5 minute phone call is all it will take) and you'll soon get that $20.70 back.

You asked a question about why your girlfriend had much more withheld. There are two factors that influence this. (1) what you filled out on your W-4. The W-4 form is where YOU ask them to withhold a lot of money or very little money. You filled one out when you got hired, and you can always fill out another one at any time. It is possible (but unlikely) that your girlfriend asked them to withhold more money than you asked them to withhold. (2) The other factor is the strange way income taxes are withheld. I don't know the exact numbers but they aren't linear. For example if you earn less than ~$100 in a paycheck then nothing at all is withheld. If you earn ~$100-~$300 then a smaller percentage is withheld. Only if you earn a lot per paycheck is the full percentage withheld.