So last year was the first year that I've ever ended up owing the IRS in my life. I've always gotten a refund, no matter how small. Last year when tax time rolled around I ended up owing like $2000 with my wife. In an attempt to get that number as close to 0 as possible, I changed my "Allowances" in Employee Express to 0.
I just started inputting my information into TurboTax the other day and it's telling me that I owe the IRS over $11k this year. I went into my W2 and did the math, divided my Federal Income Tax withheld by total wages and paid something like 14% this year, compared to 18% last year.
I have no idea how the fuck I underpaid by that much, especially when my allowances are set at 0. Why should I have to be keeping an eye on my paycheck and creating an additional withholding on Employee Express to ensure that the correct taxes are being taken out? Doesnt that seem like something Payroll should be doing?
Anyone else get hit with a bomb this year? Idk if it's tied to the new W4 procedures but I cant imagine any other reason.