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socrateaser
socrateaser, Lawyer
Category: California Employment Law
Satisfied Customers: 37972
Experience:  Retired (mostly)
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I'm about to start a new job and am filling in my W-4.

Customer Question

Hi I'm about to start a new job and am filling in my W-4. Since I'm married and my husband I both work, I've had to fill in the Two Earners Multiple Jobs worksheet. After filling it in it seems to say I owe an additional $1200 per year and to divide that
amount by the number of pay periods left in the year. Since there are only three pay periods left, do I really have to pay an additional $400 per month in extra taxes? And what is this extra tax for, if we are both paying taxes anyway. I'm confused.
Submitted: 1 year ago.
Category: California Employment Law
Customer: replied 1 year ago.
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Expert:  socrateaser replied 1 year ago.

Hello,

The W-4 is drafted to calculate the amount of withholding required under circumstances where a taxpayer has the least number of deductions available. If you are in a situation where you have few if any deductions, other than the standard deduction, then you are likely to owe the amount of taxes which you are remitting based upon the W-4 calculation.

However, an extra $400 per month does seem excessive, so it may be that you are miscalculating. Since I don't know your financial circumstances, I can't conduct the calculations for you. However, you can use an online calculator with which to check your work. See this link.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer -- otherwise, I receive nothing for my efforts in your behalf.

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