My two W-2's.

renene779 · ‎February 16, 2023

Hey. Im new to filing taxes and I was confused on my tax return results.

I wanted to file my two W-2's from one job that I was employed from July of 2021 till late October of 2022, and my current job I got shortly after I left my previous one a week after. I wasn't expecting much from my current one since I have only been employed here for a short time compared to my other one, but when I finished filing my two separate W-2's on TurboTax, it ended up saying I owed 245 to the IRS, even though it shows on my W-2's I have a total return of 1700~ from both of my w-2's. Sorry if I sound incompetent, as I said I am new to this.

renene779 · ‎February 16, 2023

If it helps solve the problem at all, I had to wait to file my previous job becuase my w-2 from them had not came in the mail yet, so I had to do an amend today since it said I could only do an amend on Feb 16th.

Montgolfier · ‎February 16, 2023

The W-2s don't show the amount of refund they show how much tax was withheld from your salary throughout the year. Turbo Tax calculates how much taxes you owe based on the incomes and deductions you report. If you had less taxes withheld throughout the year than what you actually owe then you have to pay the difference. If you had more taxes than you actually owe you will get a refund.

DianeW777 · ‎February 17, 2023

Owing taxes unexpectedly can be confusing. There are a variety of reasons this can happen, including receiving unemployment income or taking on an additional job. Also it's important to complete the W-4 for your employer correctly so that enough tax is withheld. They can only go by what you enter on that form and the amount of wages per pay period.

Some of the most common explanations for owing taxes can be found at this link: Why do I owe taxes?

The information in this like will help you complete the W-4 correctly in 2023 so that this doesn't happen to you next year. You can complete a new W-4 as many times as you need to during the year. You can review your pay each pay period and if there is no federal withholding you can choose to have them take an additional amount from each pay.