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-   -   Need to know the percentage of tax I would pay for IRS (https://www.askmehelpdesk.com/showthread.php?t=824867)

  • May 19, 2016, 11:14 PM
    amfromhyd
    Need to know the percentage of tax I would pay for IRS
    Hello,

    Am currently on OPT and just started working in Arizona.
    Currently federal and state taxes are not withheld from my pay checks. My gross salary is $60,000 per annum. I heard I can pay those taxes to IRS either quarterly or yearly when I file my tax returns. I would like to know how much do I need to pay to IRS quarterly and also yearly if I choose to.
    Also I would like to know how much will be deducted from my pay check if I ask my employer to deduct those taxes. Any help is appreciated. Thanks.
  • May 20, 2016, 05:08 AM
    ScottGem
    Just ask your payroll department, they can give you the amounts that will be withheld per paycheck. You can then figure out the quarterly amounts to pay the IRS.
  • May 20, 2016, 06:46 AM
    AtlantaTaxExpert
    Contact payroll and have them start withholding state and federal INCOME taxes. Complete the IRS Form W-4 and the Arizona-state equivalent form and claim SINGLE status with ZERO allowances to compensate for the fact that NO taxes were withheld for the first 4+ months.

    By the way, while you are on OPT, you are EXEMPT from FICA (Social Security and Medicare) taxes, so make sure they do NOT withhold those taxes.

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