why is there a big difference in the tax bill when a second w2 is in another name? For example, I entered (2) w2's married filing jointly. If the second W2 was in the same name as the first, my tax bill was less $1700.However, because the second W2 is in my wife's name, the bill is much higher. It's the same income level and same standard deduction.
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The likely cause is that you are getting an artificial refund of social security taxes. The amount of SS taxes payable in a year is capped, so by entering both W2s under one name, you may be exceeding this cap and the program is giving you a refund of the social security taxes paid. You could check for this by looking at Schedule 5, line 72.
The likely cause is that you are getting an artificial refund of social security taxes. The amount of SS taxes payable in a year is capped, so by entering both W2s under one name, you may be exceeding this cap and the program is giving you a refund of the social security taxes paid. You could check for this by looking at Schedule 5, line 72.
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