Question

2 w-2's

Forum|Forum|2 years ago
January 24, 2024
1 reply
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I work for the family company. The company is split into 2 corporations. I work 1 job for both sides of the company, and I receive a paycheck for half of my salary from each corporation. I file single/0. Last year, my last child moved out, so I no longer have any dependents. this year i owe over $6000. It is a shock. Is it because of the separate w-2's? Is there any work around?

Not A Product Question

X

xmasbaby0

Employee

Your refund or tax due is going to be calculated based on how much you earned and how much tax was withheld from your paychecks. If there was not enough withheld, that is why you owe. There is no workaround to change what was done in 2023. Going forward, have more tax withheld from your paychecks.

https://www.irs.gov/individuals/tax-withholding-estimator

https://www.irs.gov/pub/irs-pdf/fw4.pdf

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**