Another Question: I withdraw from my retirement account and taxes were taken, when I file my taxes, I got tax Again. Why is that? I thought I was going to get tax only once.
If the estimated tax withheld from your retirement payments was not sufficient to cover your tax liability for the year, you may owe additional taxes. Tax withholding in general is only an estimate. It's not unusual to see a different amount of tax owed or refunded when you finish your tax return.
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