Can you pay more tax than you owe?

IRS Publication 1, Your Rights as a Taxpayer, includes a full list of taxpayers’ rights. It includes The Right to Pay No More Than the Correct Amount of Tax. Taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax payments properly.

Can you voluntarily pay extra taxes?

If you have extra money to send the IRS after your current tax obligations are met, a Voluntary Payment can be very beneficial. But, it’s important to designate your payments in your best interest. To do this you’ve got to tell the IRS where to apply your payment.

Do we pay more taxes than the rich?

Even professional movement conservatives make this mistake. Here’s Jay Nordlinger: All my life, I’ve heard, “Tax the rich!” Some people even put it on dresses. According to the latest data, the top 1 percent of earners in America pay 40.1 percent of federal taxes; the bottom 90 percent pay 28.6 percent.

Is there a penalty for overpaying taxes?

No IRS Overpayment Penalty The IRS doesn’t charge you a tax overpayment penalty if you pay too much in estimated taxes. In fact, some people intentionally have too much withheld from their taxes as a way to force themselves to save money each pay period.

How much of paycheck goes to taxes?

Overview of California Taxes

Gross Paycheck	$3,146
Federal Income	15.32\%	$482
State Income	5.07\%	$159
Local Income	3.50\%	$110
FICA and State Insurance Taxes	7.80\%	$246

How do I send an extra payment to the IRS?

You may send estimated tax payments with Form 1040-ES, Better yet; you can pay online, by phone or from your mobile device using the IRS2Go app. Visit IRS.gov/payments to view all the options.