Note *additional amount* that we see being withheld from our paychecks after the new W4s were filed (relative to the paychecks in the preceding period) are so large that, if we continue to have that additional amount withheld through the remainder of the year, it will add up to 2-3 times the sum of the 1040ES payments that TurboTax calculated.
Note that the W4 switched us from married filing jointly to married as if filing separately, kept zero exceptions, and had an extra dollar withholding amount. Both the switch to married as if filing separately and the extra withholding must be contributing to the change in the withholding that we’re observing since it went up by more than the extra withholding dollar amount. My question is just why the total why the total additional amount being withheld is so high relative to the 1040ES amounts.
W-4 accounts for all your income tax. ES adds extra payments to make sure you don't end up short.
Thanks. I misstated the question trying to fit into the chacracter limit. I meant to say that the *additional amount* being withheld from the paycheck after the new W4 was filed (relative to the paycheck in the preceding period) is so large that, if we continue to have that additional amount withheld through the remainder of the year, it will ass up to 2-3 times the sum of the 1040ES payments that TurboTax calculated. Note that the W4 switched us from married filing jointly to married as if filing separately, kept zero exceptions, and had an extra dollar withholding amount. Both the switch to married as if filing separately and the extra withholding must be contributing to the change in the withholding that we’re observing since it went up by more than the extra withholding dollar amount. My question is just why the total why the total additional amount being withheld is so high relative to the 1040ES amounts.