1 Answer

The tax AMOUNT you owe depends on your "Adjusted gross income." when you file you Federal tax form

If you get a refund or owe more taxes, will depend on you tax liability, not how much you PREPAID!

Look at your last tax form and set your tax prepayments to equal around the actual, amount you PAID IN TAXES and do not worry about how much you got BACK, that was YOUR MONEY

I hear folks saying they got a refund of hundreds or worse yet, even thousands of dollars.

I do not understand why in the word would ANYBODY "Loan" the US Treasury that much MORE money at NO INTEREST?

If you are worried that you may owe more in taxes at that end of the year, but some money in a savings account, or buy a US Bond every month.  That way if you do owe the government any money at the end of the year you will have at least earned a bit of interest on YOUR money.

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