Okay, let's say someone's TAXABLE income (after standard deductions + exemptions of course) is 57,000. The amount withheld for Federal taxes was 8,800. About how much of a refund would they get?
Using the IRS 2012 Tax Table... For a single person or a married person filing seperately, tax on $57,000 is $10,286, meaning you would owe $1,486. For a married person filing jointly, tax on $57,000 is $7,684, meaning a refund of about $1,116. For a head of household, tax on $57,000 is $8,901, meaning you would own $101.
I wanted to get our taxes done early for once, but I'm still waiting on the mortgage interest statement and the paperwork from my wife's church listing how much she donated there last year.
AWESOME template Talkahuno! The amount was about what I got back last year (I have one less kid at home now) so it's pretty close.
if you make that much money, you ought to have your exemptions set so that you get virtually no refund, nor have to pay anything in. You make too much for any of the "credits" to increase your refund, so your goal should be to not get one, or have any liability.
doesn't matter. IRS has said they won't touch any of them until Jan. 30 anyway. Mines been filed long enough i should have gotten them back already if they had started processing right away. Your Congress (not)at work.
I'm not relying on any refund coming in or anything; I just don't like having things on my to-do list that I can't do anything about.
