3118938
Today I logged on to my IRS account and found that I actually have a "payment history" that shows a few hundred to a few thousand dollars of payment every year. I don't understand this. I withhold way more than needed and I get a tax refund every year. I never had to pay any extra tax. What does the payment mean?
You'll need to sign in or create an account to connect with an expert.
Does that represent your tax liability that you paid each year?
is that your federal withholding?
On your annual tax return a tax liability is calculated and then your withholding is used to "pay" that tax and if you overpaid thru withholding you get the excess withholding back as a REFUND. Thus the IRS shows you paid that tax and reports it as such. This doesn't mean you paid in MORE tax on the return... does it make sense now?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Jarronharden6
New Member
nfcwfo
New Member
bradbundy55
New Member
ronbo444
New Member
meres
Level 1