Submitted by AltReality t3_z8aorz in personalfinance
rnelsonee t1_iyapihr wrote
Reply to comment by AltReality in Federal taxes are not being taken out of my paycheck... by AltReality
If you tell us your taxable income on your paycheck (sometimes "FIT taxable" or something) we can tell you how much you should have withheld. If you put your gross income in the IRS calculator and it said $400, it's very possible you have >$400 in deductions so your tax will be $0.
Well, let me just do this: for joint filers with 2 children under 17, a $62,700 income for 2022 results in $5 in tax. So if you make <$62,600/yr or so, your withholding should be $0. At $66,000/yr, federal tax liability is $401.
Werewolfdad t1_iyapqvq wrote
Damn man you’re good
https://reddit.com/r/personalfinance/comments/z8aorz/_/iyap4qx/?context=1
rnelsonee t1_iyaq0j4 wrote
And I had a typo in there and wrote $62k instead of $63k!
I just have my spreadsheet open all the time now :)
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