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Tax Rebates Could Clue You in to Your Co-Worker's Paycheck

Tax Rebates Could Clue You in to Your Co-Worker's Paycheck

Tax rebates started making their way into taxpayers' bank accounts on Monday, and because the amount of your check is based on household income Fortune points out that keeping your ears open during this time could clue you into your co-workers' ballpark salaries. Of course, they'd have to drop the amount of their check into conversation and you'd have to know their personal details like if they're married or not and if they have dependents.

The vast majority of you think that talking about salary with co-workers is a big no-no, but if you're really dying to know this could be a way for you to determine about how much your co-workers are making without asking them outright. Don't go asking the whole office how much is each person's rebate check, but you're not doing anything terribly wrong by tracking the details your co-workers volunteer. Find out the clues you should be looking for when you

  • Keep in mind the phase-out reduction: If someone earns over $75,000 and has no dependents, their check will be 5 percent less for every dollar made over $75,000. For married couples filing jointly, the phase-out starts with a household income of $150,000 and those without dependents and making $165,000 will barely see a rebate.
  • Rebates vary widely depending on the person's income, marital status, and number of dependent children. You can't make accurate assumptions about their salary unless you know this personal information. Fortune gives this example: The $12,000-a-year receptionist, single with no kids, may get a rebate of $325, while the $80,000-a-year manager, also single with no kids, gets hit with the phase-out and ends up with a rebate of just $350.
  • The IRS website gives detailed information for different payment scenarios, like married with qualifying dependents, single with no dependents, married filing separately, etc. The site also gives exact phase-out amounts, and the thorough information is enough to figure out your co-worker's approximate paycheck.

Source

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