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 Income Tax Calculator 2023

Irs Withholding Tax 2023-2025 Form

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Instructions and help about tax refund calculator

calculating income tax so there's some terms we want to be familiar with before we talk about income tax and the first one is gross pay so if you have a job and it whatever that job pays either yearly or pays each pay cycle the gross pay is a worker's pay before any amounts are deducted and we'll talk about what deductions and withholdings are in a second but that's just what you start if you make you know $30 an hour that's gonna be your gross pay you $30 an hour if you worked for you know five hours you get $150 that would be your gross pay net pay is what the worker actually gets after the deductions are taken and well I'll kind of highlight that in detail that in just a second but all jobs have some sort of deductions that come out of them and once those are taken out the net pay is the actual money that you get that you get to put in the bank and use to purchase things withholdings is money that's deducted from a workers wage

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