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Likely withheld at higher rate.
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Yup
Withheld.
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If you are a higher rate tax payer in the US, bonus withholding is lower than the amount you actually over the taxman, so the cash you get is more than you are entitled to, and you will need to give some back to the taxman at tax filing time..
Witheld at higher rate (unless you’re already being withheld at the max). No difference for actual taxes.