Question

Federal withholding

Forum|Forum|5 years ago
February 11, 2021
1 reply
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I received a refund of $2032 in 2019 so an overpayment as I owed $2812 and paid $4863 in withholdings. So I adjusted my withholdings and $1495 was taken out for 2020. I just did my taxes and I owe $2780 after my deductions. So I did the 2021 w4 estimator on the IRS site and it says to withhold $270 per pay check (now 24 left for 2021) based on

Expected tax withholding$1,932*

Anticipated tax obligation$6,454**

Estimated under payment$4,522

I make $90K a year, last year $80K. Nothing has changed with interest, child credit, etc. Seems crazy that the increase I received all goes to taxes and then some. I want to adjust for 2021, I will have a daughter starting college in the fall so should be able to deduct something for that. Any help would be greatly appreciated.

JohnB5677

Your right, that does sound too high. I want to be sure that you have everything entered properly.

Start entering your W-4
Continue through the screens to
1. Enter Your 2021 W-2 Wage Information
2. Did you enter the estimated current withholding or did you leave it blank?
Also be sure that the information for what you earned so far and the payment periods are correct.

These areas may have caused some of the excess withholding.

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