Reply to Just did taxes...annoyed. Other people in the same boat?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I remember doing a calculator early in 2018 and it told  me that I'd have to pay $1K. That's not a huge figure, so I left things alone. Just found out I'm getting the same refund as last year, about $4K. So the calculators aren't accurate.

It's not unreasonable for citizens to expect the IRS to withhold their taxes correctly. Especially when screwing with the tables was an UNABASHEDLY political move. [/quote]

The calculator is an estimate. It gets more precise as you get closer to year end because more of your income is then earned vs. projected.

The IRS is not responsible for withholding your taxes. YOU ARE. Hence you need to stay on top of this. Its really not that hard. Do the calculator in the first quarter and then again in the fall and you will be generally OK.

I worked in the UK. There most people don't file a tax return. The government does their taxes for them.[b] We would never allow such a system in the US given big brother concerns. [/b]The flip side is that you have to stay on top of things.[/quote]

Uh no. We would never do this because then wealthy Americans couldn't cheat on their taxes through inflated deductions, inflated depreciations, and phony expenses. The IRS has little bandwidth to really police this stuff.[/quote]

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