Why do we owe federal taxes? How can I change the W-4s for next year?

mel1313 — Thu, 06 Jun 2019 09:47:28 GMT

I am married and we both work. I claimed 2 and she claimed 0.

We had a child last month so know I don't understand what we should claim for allowances. Shouldn't it be a combined total of 3? But the 2 allowances caused us to owe over $4500.

In general, I find the exemption explanations to cause mo...

Coleen3 — Thu, 06 Jun 2019 09:47:30 GMT

In general, I find the exemption explanations to cause more harm than good. Ideally, this should work but in real life, it seldom does. My first question would be do you have other incomes that did not have withholding and is causing the balance due. Secondly, although you owe now, you did not lose money, you simply got it in your paychecks each pay period. My advice is to always put zero, so you don't have this predicament (although if you do have other types of income, this may still not be enough to cover it). If you find that there is too drastic a change in you paycheck, bring it back to one.

If you can't pay by the due date, you may request an installment agreement.

https://ttlc.intuit.com/replies/4062611

topic Why do we owe federal taxes? How can I change the W-4s for next year? in Get your taxes done using TurboTax

Why do we owe federal taxes? How can I change the W-4s for next year?

In general, I find the exemption explanations to cause mo...