Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
Doc_I
New Member

Owe Less at Tax Time

I owed way more than expected last year despite claiming "0". I there a way to mitigate the amount owed?

 

Filing Married, 2 young kids. 130k.

1 Reply
KochuK
Employee Tax Expert

Owe Less at Tax Time

Hi Doc_I, Thanks for the questions.

 

Recommend that you fill out the re-designed Form W-4.

Form W-4 Employee’s Withholding Certificate

https://www.irs.gov/pub/irs-pdf/fw4.pdf

 

The simplest way to increase your withholding is to enter in Step 4(c) the additional amount you would like your employer to withhold from each paycheck - divide the amount you expect you will owe by the remaining pay periods.

 

Or reduce the number of dependents on Step 3.

 

Hope the above helps.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v