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Wife and I claim zero exemptions, so max taxes are taken, we paid $1400+ more in 2022 than 2021 and yet owe $1098 still? How so?
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Wife and I claim zero exemptions, so max taxes are taken, we paid $1400+ more in 2022 than 2021 and yet owe $1098 still? How so?
You would have to compare 2021and 2022 returns line by line to see what accounts for the difference.
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Wife and I claim zero exemptions, so max taxes are taken, we paid $1400+ more in 2022 than 2021 and yet owe $1098 still? How so?
Did you each figure W4 using married filing jointly status? That may be the problem. You both can’t claim married filing joint status as it doubles the deduction in the calculation for withholding. You may want to review W4 to make sure you completed the section where the spouse also works. It will tell you how to fill out that section with each of you claiming half the deduction rather than the full deduction.
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Wife and I claim zero exemptions, so max taxes are taken, we paid $1400+ more in 2022 than 2021 and yet owe $1098 still? How so?
And.....did you also take into account the fact that some of the generous tax credits given for 2021 were not given for tax year 2022? There was no recovery rebate credit for tax year 2022. The child-related credits were less, as was EIC. Compare your 2021 and 2022 Form 1040's next to each other, line by line to see what was different.
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