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M
mac117all
April 6, 2024
Question

Why am I paying more taxes to get a lesser refund?

  • April 6, 2024
  • 1 reply
  • 0 views
why is there a tax on a retro payment or employee bonus?

1 reply

X
xmasbaby0
Employee
April 6, 2024

"Why is there a tax on a retro payment or employee bonus?"

 

Why do you think it should not be taxed?   If you received taxable income then you pay tax.  If not enough tax was withheld at the time you received the income, then your refund is smaller when the amount of your income and the amount of tax withheld is reconciled.

 

No one can see your screen or your tax return.  If you provide more details (without any personal information) we can be more helpful to you.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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