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Tax season starts Jan 1 & ends on April 15
Eg: You need to file your income tax on all the income you made between Jan 1, 2024. to Dec 31, 2024
Whoever gets W-2 or 1099 have to file your Income Tax. It is the law to deduct Federal tax, FICA taxes (Social Security & Medicare), State/Local Taxes from your paycheck.
a) Federal Income Tax (According to your income 10% - 38%)
b) Social Security Tax (6.2%)
c) Medicare Tax (1.45%)
d) State Tax (3% - 8% depending on the State)
ONLY 7 States no have state taxes like Texas, Florida, Alaska, Nevada, South Dakota, Washington, Wyoming.
e) Local/City Tax (1%-5%)
W-2 form that reports income paid and taxes withheld by an employer for a particular employee during a calendar year. The form is also used to report FICA taxes to the Social Security Administration. You will get a W-2 from EACH employer you have worked.
A 1099 MISC is given when you are considered Contract Labor and you are not an employee of the company. Companies do this because they do not want hassle of paperwork and also do not want to pay Social Security (6.2%) and Medicare (1.45%). You will have to pay the federal Tax (15%+) Social Security & Medicare (15.3% double -because in a W-2 the company pay half). You should always try to avoid getting 1099, ask your employer.
If your spouse, kids, siblings, parents are in USA and don't have a Social Security Card, you can apply for a Tax ID when you file your taxes because you can get more deductions and benefits depending on the situation. You have to file a tax return to get this. It has become very difficult to get this, as now you have to send in the original passport if you want to get Tax Id.
When you e-file the tax return you will get it in 7-10 business days. You can check on our site and by the 3rd week if you don't get it please let us know. Your refund depends on your income, age, filing status, withholding and deductions or itemizations you take.
No one knows. It can take a day or 3 weeks and most of the time there is no refund that's why they have a state tax. Please check on our website. Also when you itemize the federal the state will automatic be itemized.
