Hi guys! First time poster, and honestly I doubt there’s anything you all can do to help but I’d just appreciate some advice about whether I have any other options.
Every year I’ve had a tax refund, never had to owe the IRS anything. I was expecting a few thousand when I got ready to file this year, but instead TurboTax showed me I owe 7,750 dollars!
All my info was entered correctly. I think the problem is both me and my wife have had multiple jobs which we didn’t take into account for with our withholdings.
I have two jobs, my primary job I claim 1 exemption, and the second I claim 0. However, I didn’t do the back side of the W4 worksheet to adjust for the total I’d be making across both jobs. I was working 2 jobs to try to support the family while my wife was off work with our first baby.
Similarly, my wife had two jobs because she needed multiple per-diem options that were flexible, since she couldn’t work full time (again, baby). She claimed 2 exemptions on her first job, and 3 exemptions on her second (I didn’t know this, seems like that was a big error). She also didn’t do the backside of the W4.
On top of all of that, my wife got 6 weeks of paid family leave which is apparently taxed, and we didn’t opt at that time for any withholdings on that either.
Does this sound like a legit reason to have such a large debt to the IRS? Is it possible there’s something I did wrong or can do differently with filing?
Fortunately I spent all of this year saving up a decent sized emergency fund and can pay this off lump sum, it just kind of sucks! That’s part of our house deposit money too. Thanks for any advice!
Submitted February 19, 2018 at 11:47AM by walktall http://ift.tt/2BDoUzP
