this post was submitted on 23 Feb 2025
940 points (96.5% liked)

Comic Strips

14170 readers
4824 users here now

Comic Strips is a community for those who love comic stories.

The rules are simple:

Web of links

founded 2 years ago
MODERATORS
 
you are viewing a single comment's thread
view the rest of the comments
[โ€“] bitchkat@lemmy.world 2 points 7 hours ago (1 children)

They do deduct taxes from your paycheck. Basically once a year, you have to true up and figure the exact amount you should have paid. If that's less than what was withheld, you get a refund.

[โ€“] CidVicious@sh.itjust.works 1 points 1 hour ago* (last edited 1 hour ago)

Well plus there are taxable events that aren't on your payslip. If you sell goods over a certain threshold. If you get a taxable distribution from an investment account. Etc. Edit: also the IRS doesn't know about what you have that's eligible for deduction.