One paycheck I earned only $77 and the govt withheld 9% of it.
Then I earned $2,000 and they withheld 26% of it.
Is everyone else experiencing this?
The less you earn, the less percentage-wise the govt withholds? The more you earn, the greater percentage they withhold?
At this rate, I fear that if I hypothetically would earn $8,000, they would withhold 100% of it. Do you see where this is going?
earnings are highly variable. the best I can do is I keep a spreadsheet, on which I calculate hourly and weekly and monthly averages. And I’ve only been there a month so not enough data to extrapolate from yet.
well thanks, they are deducting so much from me (26% ?!) that I certainly would be due a refund. Were it not for another tragic turn in my personal circumstances, in which the IRS has been garnishing all of my tax refunds since 2014 because of something stupid my ex-husband did in 2009 😡
This is how the tax rate works. As for your fear of them taking 100%, they won’t. The max single-payer tax rate, as of 2023, was 37%.
Thank you 🙏