malla
Returning Member

Deductions & credits

Thank You, but I am still a little confused.  My tax withholdings, from my employer, are 115K and I overpaid my taxes by 33k.  If withholdings are considered a liability than I have a tax liability of 82K (115k – 33K = 82K).  I do not have any other credits. If my liability is 82K than shouldn’t my refund go up by $7500?