In October 2019 I started a new job and used the new W2 format for the first time. My husband and I file jointly and 2019 taxes went fine. However for 2020 we ended up owing several thousand dollars. We did not have a significant bump up in salaries that year (overall just several thousand dollars between the both of us) and had no other significant changes to report. My husband has been at the same job for several years and never submitted a new W2 when they were introduced. Could this be the reason we ended up owing so much?
Recently, I ran our current numbers through the IRS calculator and it looks like we may end up owing a bunch again this year. Is there something that we are missing as to why the right amount of taxes are not being taken out? Is there something to the new W2 format that causes this? Never had this problem ever before. Thank you in advance for any help!
