Re: W-4

I claim married with 0 deductions on my W-4 at work. I now owe over $3,000 in taxes. I file Jointly with my husband he claims the same. When I process the returns in Turbo Tax separately he only owes $30 and I owe over $3,000 so it is on my income. I thought filing my W-4 with 0 deductions it would basically even out or I would owe a little. Why would I owe so much? Thank you for any input.

posted

As part of the Tax Cuts and Jobs Act, the IRS and Treasury adjusted the tax withholding tables, which affects the amount of income taxes withheld from your pay.  In 2020, W4's were completely redesigned. Exemptions or Allowances are no longer applicable. 

My suggestion is to use the IRS Tax Withholding Estimator here. 

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