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Posts Tagged ‘withholding taxes’

Are You Taking Out Too Much or Too Little in Taxes from Your Paycheck?

Income earned from wages is taxable if it exceeds a certain amount. If the income earned is from wages, the employer withholds taxes from the paycheck of the employee and transfers them to the IRS. The amount an employer withholds depends upon the wages and the information provided by the employee on Form W-4. How Inaccurate Withholding Affects You If you have a single source of income, i.e. ...