I would start by reviewing the W-2s. First divide the federal withholding in box 8 by the box 7 wages to get the percentage for each W-2. I would compare that percentage to the effective tax rate for your return. The effective tax rate can be found at the bottom of your 2-year comparison form if you printed your return with all forms and schedules. If the withholding percentage is less that the effective tax rate and you want to reduce the amount you owe, you would need to adjust your withholding by submitting a new W-4 to your employer.
The IRS no longer uses the old method of choosing Married/Single/Head of Household with 0, 1, 2 etc. exemptions to determine the withholding amount. You can use the free TurboTax W-4 Withholding Calculator 2021-2022 to determine the appropriate level of withholding and the Tax Calculator for Refund & Return Estimator 2022-2023 called TaxCaster to estimate your tax refund or how much you may owe to the IRS.
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