You'll need to sign in or create an account to connect with an expert.
has the original been fully processed and you've gotten your refund? if not you're jumping the gun. however, why you have to pay money back is almost undoubtedly due to the W-2 increasing your taxes more than the increase in withholding covers.
The IRS taxes you on total income, so adding a W-2 will increase your total income and tax rate, as Tax Champ Mike9241 says.
Unless you used the Multiple Jobs Worksheet when filling out W-4 withholding certificates, each job will only take out enough tax to cover that job. When added together, the total tax return may be higher.
If your refund is more than the tax owed from the extra W-2, then you still would have gotten a refund if you filed everything together.
If the amount you owe is more than your refund, it means you would have owed tax anyway.
You can use the free TurboTax W-4 calculator to file new W-4s for each job. It will tell you what numbers to put on the form.
The deadline for filing an amended return and paying the tax without penalty is April 18.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
daniel-ml-johnson
New Member
RosaleeMcS
New Member
slib1956
New Member
kreationskimmy1
New Member
ConWheezy
New Member