@jonpagel wrote:
Ok thanks…and it is literally just 110% of the federal withholding line on my paycheck? I’m probably making more money this year from my employer so they will withhold more because of that but it is just 110% of 2021 federal withholding regardless if my job income increases this year right? That should actually help because it there will be more withholding due to that to push me over last year…I’ll Have them withhold some extra as well… Thanks !
110% of your tax liability. That's what the IRS got to keep after all was said and done. For example, if you had $10,000 withheld and you got a $1000 refund, your liability was $9000. Likewise, if your withholding was $10,000 and you owed an additional $1000, your liability for the year was $11,000.
