what is criteria to get back money? If you make under a certain income level? What percentage do you have deducted from each paycheck?
Every time i do the IRS calculator- it says i owe money. I don't get it- if earnings are $15000 lets say (the amt. is low)- why should i pay 50% in taxes?
I used to get back money as a teenager and i had less taken from me. Can anyone break this down for me?
I don't know what the breakdown is or anything, but I can tell you that I made more money this year than I ever had and I also got a bigger tax refund. I claim single and zero on my W2 and don't have any extra deducted from my paycheck.
they take a greater percentage if you make more (there are a few different "levels"), and you'll probably get more back(or owe less) if you have more withheld.
you shouldn't be paying 50% on 15k though....that's way too high