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IRS Withholding Calculator

October 24th, 2009 at 04:57 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.)

Posted in My Financial Learning, Budget Tracker | 4 Comments »

4 Responses to “IRS Withholding Calculator”

  1. lizajane Says:
    October 24th, 2009 at 05:35 pm 1256402142
    1256402142

    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:
    October 24th, 2009 at 05:41 pm 1256402477
    1256402477

    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:
    October 24th, 2009 at 06:22 pm 1256404952
    1256404952

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

  4. Joan.of.the.Arch Says:
    October 25th, 2009 at 12:16 am 1256426176
    1256426176

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

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