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IRS Withholding Calculator

October 24th, 2009 at 03:57 pm

I just double checked our tax status with the online IRS Withholding Calculator and if we don't change anything, we should get $173 in a refund. I'm happy with that. It's not a huge refund nor will we owe, which is what I want. It's not enough of a refund for me to adjust things now. I think the only reason it's coming up as a some surplus instead of a small deficit is because of the money we're losing due to my husband's one week furlough at work and we didn't get a bonus or raise this year. Anyway, one small load off my shoulders. I don't think I need to worry about taxes when they come around this year. (Last year we had to pay about $1000.)

5 Responses to “IRS Withholding Calculator”

  1. lizajane Says:

    Thanks for reminding me to do this. I lost my "to do" list, but this was toward the top of it and I really need to get it done. The H&R Block web site also has a calculator that's slightly different, but it's like having a 2nd opinion. I want to make SURE we won't owe anything since the tax withholding tables were adjusted.

  2. dmontngrey Says:

    Ooh, I'm going to go find this! I always shoot as close to zero as I can. I usually get a small refund from the state and owe a small amount to federal - nearly break even. I was so jealous of a coworker last year who got a $4 refund from the IRS!

  3. creditcardfree Says:

    That's good news! It always helps to know ahead of time.

  4. Joan.of.the.Arch Says:

    I should do that, too, as the employment situation has changed. See where we stand.

  5. Jerry Says:

    That is great! I have read that the closer to "even" you can lead your numbers at tax time, the less money you have loaned to Uncle Sam (at ZERO INTEREST) for the past year! I would rather have the insurance that I can make my own determinations with my money, than lend it out for free and not have any say over how it is used...
    Jerry

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