How much Federal Tax will I have to pay if?

How much tax will I have to pay for 2009 if I did not take my federal witholding out of my unemp checks weekly?

  • they were taking 25.00 a week out and I had it stopped temp. what can I expect to pay next yr. come tax time. is there a chance for a any kind of refund since I have been unemployed 4 months

  • Answer:

    It's impossible to tell. The first $2400 won't be taxed under the stimulus plans. The rest will be added to your tax return like any other income. Since I don't know your marginal tax bracket (0%? 10%? 15%? 25%?), it's impossible to know if you still owe at the end of the year or not.

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Other answers

It depends on your total income, as well as things like your filing status, dependents if any, and deductions. If you get a job for the rest of the year you might be wise to put zero allowances on your W-4 to make up for it. If $25 a week was taken out for part of the time, there's some chance you could get a refund, but not real likely unless you have more taken out this year.

For a rough estimate of what you will owe if you do not find a job, take the total unemployment compensation for the year, add any other taxable income, subtract your deductions and exemptions, multiply by 10-15%, and subtract the amount that was withheld. (If the result is negative, then you may receive a refund.) If you do find a job, then the amount owed or the amount of the refund depends on how much you make at that job and how much is withheld at that job.

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