Why Ought I File Past Years Taxes Online: Difference between revisions
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Revision as of 14:37, 24 August 2026
After all the festivities, laughter, and gift giving for the holidays, giggles and grins quickly meld into groans and glowers as Taxes Preparation Season rears its ugly face. From January 15th until April 15th, Americans fuss and fume about our rising income taxes. Nevertheless, in an odd sort of way, some must enjoy the gloom since they'll file for an extension, prolonging the agony of the inevitable.
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For his 'payroll' tax as the employee he pays 7.65% of his $80,000 which is $6,120. His employer, though, must give the same 7.65% - another $6,120. So from the employee with his employer, the fed gets 15.3% of his $80,000 which comes to $12,240. Note that an employee costs a boss his income plus 2.65% more.
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