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re: First time ever I owe taxes
Posted on 3/25/24 at 8:33 am to tigerbacon
Posted on 3/25/24 at 8:33 am to tigerbacon
quote:
We file jointly and always owe thousands. I just consider it a interest free loan at this point
IF you owe more than 1000 a year on consecutive years you will owe a penalty for underpayment of estimated taxes.
You should either adjust your withholding to owe less, or start making prepayments every quarter.
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