topic Why do I have taxes due and don't ever get much money back? Is there something I'm doing wrong? in Get your taxes done using TurboTax

Why do I have taxes due and don't ever get much money back? Is there something I'm doing wrong?

gromit94 — Wed, 01 Apr 2020 17:17:29 GMT

Re: Why do I have taxes due and don't ever get much money back? Is there something I'm doing wrong?

xmasbaby0 — Wed, 01 Apr 2020 17:31:54 GMT

We cannot see your tax return or any of your information. Your refund (or tax due) is affected by how much tax you have withheld from your paychecks during the year, and by many other variables like your filing status, whether you have dependents, what credits or deductions (if any) you qualify for, etc. etc. etc.

Re: Why do I have taxes due and don't ever get much money back? Is there something I'm doing wrong?

JulieS — Wed, 01 Apr 2020 17:40:07 GMT

If you consistently owe or get very small refunds, you are having just enough tax withheld to cover the tax you owe.

Many people think is the best way to pay your taxes, but if you are uncomfortable with that, you can file a new W-4 form with your employer. The IRS has an excellent tool for doing that.

Click here to use the withholding estimator.

If you are self-employed you may need to adjust your estimated payments.

Click here for help with that.

TurboTax can help you adjust your estimated payments and your W-4, based on the information in your current year return. Just search for W-4 using the search box toward the upper right corner and answer the questions according to your situation.