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Filed: Citizen (apr) Country: England
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One of the big differences between UK/US life is the income tax situation. In the U.K. only the self-employed file tax returns; the rest of us have our deductions automatically taken out by the government using the PAYE system, and that's that. We neither owe the Inland Revenue, nor are we owed by them come the end of the financial year. And I've obviously gotten used to that.

Here, I know it works differently. One must submit a tax return to the IRS yearly (unless one earns less than a certain amount, which I believe is around $8,000) and either cough up, or receive a refund. I NEVER want to be in a position where I owe the IRS anything, so from what I can gather, I need to tick the "no allowances" box on the W4. This means that I'll have more taken out, but will be pretty much guaranteed a refund come filing time, correct? And what percentage of my salary will be witheld on a "no allowance" basis?

Also, is joint filing when married compulsory? Or if not compulsory, more beneficial financially? Or is one better off filing seperately?

Thanks.

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Service Center : Phoenix AZ Lockbox

CIS Office : Saint Louis MO

Date Filed : 2014-06-11

NOA Date : 2014-06-16

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Filed: AOS (apr) Country: Philippines
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Posted

married filing separate or married filing joint are two options... one is not compulsory over the other

generally speaking, MFJ will yield a lower tax burden ....however, in any one year a married coupe can calculate both MFJ or MFS and choose whichever one best reports the minimum amount of tax for that reporting year

YMMV

 
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