I was a bit shocked because usually I get money back, I would estimate past refunds were between $600-1200. This caught me off guard. I did start a new job at the very end of 2024 so maybe they aren't taking as much out in taxes as previous employers. I use TurboTax because of their "guarantees" but I was having some problems last year figuring out their tax filing so maybe it's just worse this year and I messed up something?
I'll give you the numbers(there's not much) and maybe someone say tell me if that seems right or TT is broken.
W-2
Line 1: 70769.29
Line 2: 4720.79
Line 4: 4387.70
Line 6: 1026.15
1099-INT: $5618.96 (no taxes withheld)
1099-DIV: $20 (no taxes withheld)
Took Standard Deduction of $15,750. Filed Single. I don't really understand taxes enough to figure out if this seems right. TT tried to explain it to me(not a person, I think it was AI) and it said standard deduction would make my taxable income $60,658 and my total tax would be $8255, which I've paid $4721.
TT says I owe $3534 to Fed. Does the math seem to check out?
byu/shoktar intax
Posted by shoktar
3 Comments
Yes, the issue here is you didn’t withhold enough. Something about how your w4 was set up, or your pay structure, caused significantly less to come out of each check for taxes. That money went to you instead.
The fix is for you to now pay that money to the IRS, and get your withholding fixed for 2026 to be taking more out.
TT isn’t broken. You underwithheld for 2025 by about $68 bucks a week.
Fix it here:
https://www.irs.gov/individuals/tax-withholding-estimator
And give your employer an updated W-4 tomorrow:
https://www.irs.gov/forms-pubs/about-form-w-4
Yes, change your W-4 at work to take out more tax.
It’s not that your new job is taking out less tax on their own, it’s because, whether you realize it or not, you told them what to take.
Tax Withholding Estimator | Internal Revenue Service https://share.google/R7qLch7586k9nTRw9