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mkora
New Member

claim zero for exemptions but still owe over $6000 on my federal taxes with 165K AGI

My wife and I both claim 0 exemptions and have a combined income of about 165K. I have underpaid by around $6000. How could the withholding be this inaccurate? we have no credits for children or anything out of the ordinary.

 

 

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2 Replies
mkora
New Member

claim zero for exemptions but still owe over $6000 on my federal taxes with 165K AGI

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claim zero for exemptions but still owe over $6000 on my federal taxes with 165K AGI

unfortunately, that question is quite broad and its answer is quite specific to each family's tax situation.  Even the difference in income between the two spouses can impact the answer.

 

I suggest working through the W-4 Form worksheets in the link below and come to your own conclusions may be the best path to take.  It will also help avoid this situation next year by adjusting your withholdings now. 

 

https://www.irs.gov/pub/irs-pdf/i1040x.pdf

 

also,  suggest reconfirm with your employers that you are coded for zero allowances and 'married'.  

 

 

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