<prompt> Human: My employer generously gave our team a bonus tied to company performance on top of our regular 5 of income annual bonus. This performance bonus came to 22,300! That is roughly half of my salary, so Im pumped. They said in the letter that it was subject to applicable taxes and withholdings, so I did some calculations on CalcXML.com and found I should net around 17k. This made sense to me. Imagine my surprise when I checked my bank accounts this morning and only 10k came through. Thats over 50 taxation. What am I missing here?? Assistant: They withhold at a higher rate. You will pay your normal marginal tax bracket when you file.Human: So that 12k is just gone, then? Or will I get some of it back when I file next year?  <response>: Youll get the difference between the withheld amount and your actual tax liability when you file your taxes. Thats what a tax refund is. 