Hot Student Stories

Will you have to pay taxes if taxes are not taking out of your check?

Whitney Matthews

in Student Loans

1 answer
1 view

1 answer

Jennifer Patterson on July 8, 2018

Yes, you may have to pay taxes if they are not being taken out of your check. If you're not making a lot of money and your income is below the income threshold (which was $9,500 for a single person under 65 years old in 2011) you do not need to file a tax return. On the other hand, the fact that taxes are not withheld from your salary, it could be an oversight. Be sure to check to make sure that your withholding matches your tax liability - the IRS Withholding Calculator can help you make this determination. If they do not match, adjust the number of allowances you claim on your W-4 to ensure that they do. On the contrary, if you are self-employed, as an independent contractor or freelancer, taxes will never be withheld and you will be responsible to send their own payments of estimated tax to the IRS at least four times a year.

Add you answer