Got my sign on bonus paid today. 46% withheld by tax. That is high! Is it because bonus is withheld at a higher tax rate regardless of what my tax bracket is?

funnylike
Posting as :
works at
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Bonus gets withheld at top tax bracket (federal and state). You’ll get it back in April

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Depends on your total income for the year. Regardless of withholding, bonus is treated like any other income. So if the withholding turns out to be too high then your refund will be bigger (or vice-versa)

Yes

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Thanks!

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Got to look at the pay statement. So it's federal @22% and NY state income tax (yikes), plus social security tax and medicare tax

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Biden’s America 🤪

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Can’t tell if this is a joke or just extreme ignorance when it comes to our tax code

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did you get sign on bonus on the first or second pay check?

First

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Welcome to corporate America!

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