Tax Refund is Huge- how to change for next year

[Anonymous]

We are getting a tax refund of over $15,000, which we'd obviously like to fix for next year. Is there a calculator somewhere that lets you figure out how to increase deductions, etc.?
thanks.

[Anonymous]

Www.irs.gov has a calculator.

[Anonymous]

Hhi?

[Anonymous]

To expand on PPs post, you go to the IRS withholding calculator and figure out what you will owe. Then you do a new W4 and claim 0. Then in the box for extra withholding, you do 1/26 of the amount you are projected to owe if you are paid biweekly. If you are paid weekly, take 1/52. If you are paid monthly do 1/12.

[Anonymous]

Anonymous wrote:We are getting a tax refund of over $15,000, which we'd obviously like to fix for next year. Is there a calculator somewhere that lets you figure out how to increase deductions, etc.?
thanks.

OP - Please provide more details if you don't mind...specifically your HHI, if you own a home and therefore have the deduction and do you have children? also, how many deductions were you claiming?

I am a bit worried we under withheld this year and of course will find out soon. wonder how far off the mark we are or aren't !

[Anonymous]

Just raise your number of dependents by 1 on your new W4. When it's time to file takes you obviously report your real number.