turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

aziken
New Member

Does paying a extra 25 dollars to my taxes all this year how does this affect my tax return for 2023 and I get paid weekly..

I owe taxes for the previous year around 500 and been paying it off in a installment agreement and have not missed one payment will the extra 25 per check help me improve my tax return this year.
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Does paying a extra 25 dollars to my taxes all this year how does this affect my tax return for 2023 and I get paid weekly..

@aziken hard to say; taxes are only calculated on a tax return and no where else. 

 

Increasing your withholdings (which is the downpayment against the tax liability) certainly reduces how much you would owe or how big the refund would be. 

Does paying a extra 25 dollars to my taxes all this year how does this affect my tax return for 2023 and I get paid weekly..

Maybe---but we cannot see any of your information, so no one here can predict your tax refund or whether you have paid off the tax you already owed.   The "extra" money you are having withheld will simply be shown in box 2 of your W-2 --- so you will enter your 2023 W-2 when you get it in January and see how it all comes out.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies