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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm having a lot of trouble with my taxes and can't seem to figure out why they never add up.

Last year I had additional withholding of $100 a pay period thinking it would be enough (using the calculator). I just did our taxes and we owe $4500 AGAIN. I just don't understand why. Both of us work (standard W4s), married and own a home (5k in mortgage interest deductions from that). I do not think DH's employer is withholding enough. DH says that he put 0 exemption and married, filing jointly. Why aren't enough taxes being taken out of his income? Using the calculator it shows that he's underpaying by $3500 just for his salary. Also, even though he received a 10k raise in the fall, it shows he made less money in 2013 than 2012. I'm just so frustrated by the taxes!

I would really like to fix this for next year to avoid penalties. What am I doing wrong? [/quote]

something is not right here. zero exemptions and you still owe - even with mortgage deduction?  even with the 10K raise in the Fall, no way you should owe that much.

are you using turbo tax?[/quote]

This is what I don't understand either- OP seems to be doing things right. Maybe one of the smarties on this thread can explain rather than just exclaiming "gosh no!"[/quote]

Agreed.  If everyone on this thread were correct we would all be screwed.  I am an intelligent and savvy 48 year old who has been paying taxes for years! Not one time did it ever occur to me that my employer could be withholding incorrectly. If this were the case then my employer would be hugely penalized as well. 
So - assuming that I am married, filing jointly and I fill out my W4 correctly, zero exemptions...taking the mortgage interest deduction and fully funding my 401K then employer should be withholding X...what's the mystery here?[/quote]

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