Solved
Filing Status Married Filing JointlyTotal Income $79,650Taxes withheld $5,097Federal deductions and exemptions$23,200 how do we still owe over $2,000?
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The calculation is like this: 79,650 -23,200=56,450 taxable income. From the IRS tax tables the tax on that is $7,544. You had 5,097 withheld so you owe $7,544 - $5,097 = $2,447.
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