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Tax Refund

February 29, 2016

 

In the USA, taxes are directly taken out of workers paychecks. Taxes are generally composed of Federal Income Tax, State Income Tax, Local Income Tax, Medicare, and Social Security.  At the end of the financial year, if one’s tax liability is less than what was paid then one gets a refund check. Otherwise one owes money back to the IRS and has to pay:/ The refund can be an actual check or be direct deposited into one’s bank account.

 

Right now in France it works differently. The income tax is not taken upfront, but you still file your taxes at the end of the year, calculate how much you owe in taxes if any, and then you have to pay:/ I don’t think one method is better than the other, but it is definitely something you need to be aware of when moving the USA.

 

I suggest you review the different income tax treaties between the US and your country of origin for eventual tax breaks. Also, if you are not confortable dealing wiht this yourself, you should be able to find a tax specialist to help you file your taxes almost everywhere through free tax workshops, or professional taxprep services. 

 

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