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re: Tax board: official, how much you gettin back thread?

Posted on 1/28/16 at 2:07 pm to
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56589 posts
Posted on 1/28/16 at 2:07 pm to
Prolly $5,500 or so.

Push the limit too many times and the IRS forces maximum withholding and you don't have a choice.
This post was edited on 1/28/16 at 2:09 pm
Posted by slackster
Houston
Member since Mar 2009
85481 posts
Posted on 1/28/16 at 2:14 pm to
quote:

Push the limit too many times and the IRS forces maximum withholding and you don't have a choice.


There is no underpayment penalty if you're within 10% of your actually taxes owed OR if you withheld at least 100% of last year's tax liability.

No one is suggesting you should have it down to that much of a science nor should you push the limits, but it isn't much to get your federal withholdings in line so you're not getting $3K refunds of your own money every year.
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