When a taxpayer has too much tax withheld from their paycheck, they pay too much tax during the year. They can change their withholding to have money upfront rather than waiting for a bigger refund.
Taxpayers with too little tax withheld might owe money. Under-withholding can lead to both a tax bill and an additional penalty.
Taxpayers who start a new job should check their withholding to make sure they are having enough taxes withheld. Their total withholding should cover the income tax owed from their new and old jobs combined.
01 When a taxpayer has too much tax withheld from their paycheck, they pay too much tax during the year. They can change their withholding to have money upfront rather than waiting for a bigger refund.
02 Taxpayers with too little tax withheld might owe money. Under-withholding can lead to both a tax bill and an additional penalty.
03 Taxpayers who start a new job should check their withholding to make sure they are having enough taxes withheld. Their total withholding should cover the income tax owed from their new and old jobs combined.
Filing separately can disqualify or limit your use of potentially valuable tax breaks, including (but not limited to):
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