Possible $14,000+ pay day!

Dee is right. I have my w2 set up in a way that when I did my taxes this year I am getting back $420 from the feds and I owe the sate $380. So I will be netting a profit of $40. Its way better for me to have the extra $100 a paycheck every 2 weeks and do with that money what want then to get a $2600 refund at the end of the year and let the FEDS use my money interest free. So basicaly in my scenario I am throwing away about $100 in interest if I were to get the refund at the end of the year instead of every paycheck at a modist 3%.

Originally Posted by PartTimeScrapper

Dee is right. I have my w2 set up in a way that when I did my taxes this year I am getting back $420 from the feds and I owe the sate $380. So I will be netting a profit of $40. Its way better for me to have the extra $100 a paycheck every 2 weeks and do with that money what want then to get a $2600 refund at the end of the year and let the FEDS use my money interest free. So basicaly in my scenario I am throwing away about $100 in interest if I were to get the refund at the end of the year instead of every paycheck at a modist 3%.

Perhaps it is how the w2 is set up.

All I know, is I claim 2 dependents, and I don't withheld any income. I can see where you are coming from PTS, for sure.

However, the IRS is the one thing I know not to mess with. I have seen friends and family get burned bad by the IRS in different situations.

Even if I owe anything out of pocket, I rather be straight, then have them knock on my door.

Also, so far, I have always gotten money back. Only thing I have ever paid which has come out of my return is the fee to file, which is generally a little over $400. Sometimes more.