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re: Question about filing taxes married-first time

Posted on 1/21/22 at 6:35 am to
Posted by Tiger-Striped-Bass
The Bay Area
Member since Dec 2004
1266 posts
Posted on 1/21/22 at 6:35 am to
quote:

You do realize that the deductions you put down for your employer, just determines how much THEY withhold for taxes...nothing to do with what you owe.


I hear what you're saying, but I think this needs clarifying. Depending on what you've chosen your employer to withhold (yes OP, you selected those 2 dependents), it directly impacts your refund or what you owe. If your selection results in over-withholding, you'll be refunded accordingly. If your selection results in under-withholding, you will owe. I always claim less than reality and get a little back. Not a lot, but i don't like to pay in the spring, and never do
This post was edited on 1/21/22 at 6:36 am
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