Federal Taxes

In this topic, you have learned about the different payroll taxes and how they actually benefit you.  The federal government receives the largest portion of its revenue from payroll taxes.  Therefore, they will probably not be going anywhere for a while. 

You just need to decide how you want to manage your money by adjusting your allowances and deductions to suit your needs.  You're going to need to remember the important facts about W-4 forms, paycheck deductions, and tax refunds in order to keep the money to which you are entitled.

If you have further questions or concerns about the taxes that you pay, check out the U.S. Treasury or the IRS websites. If you would like additional practice on completing form W-4, see the simulation on the IRS website.