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Reply to "Is it possible to owe money in taxes with 0 exemptions?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]"Refund" (or lack thereof) is only barely related to what taxes they actually pay. The key info is what they had withheld. Withholding > final tax bill? You get a refund. Withholding < final tax bill? You owe. [/quote] OP here. I understand this but with 0 exemptions how is her final tax bill higher than her withholding when she is giving max withholding? [/quote] Trump f’d up the withholding table with his new tax law.[/quote] This. [b]There's now a calculator on the IRS site you can use to figure out how much additional withholding to request to avoid owing[/b], in $ per paycheck. It's annoying though, you need both paychecks for the data entry. [/quote] That calculator has existed since the early 2000s.[/quote] Right but we didn't need it when we just chose 0 exemptions and never owed. [/quote]
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