Got my taxes done. First, modest refund in five years. Ideally, you want to neither get a refund (which means you lent the govt $ at zero interest) nor owe money (which throws off planning). But if you're close to the pin either way, you're OK.
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There are also the penalties to worry about if you are off by too much.
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Usually penalties if you didn’t withhold enough.
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Have always made it a point to write a check to the IRS rather than have them send one to me. Not to much as we don't want penalties, but still, I write the check to them.
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Disagree. You want to owe the most tax possible from prior year w/o triggering under-withholding penalty.
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As usual, my three-digit bill owed to the state neary offsets the three-digit refund from IRS. I'm netting $84.10.
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After the Trump tax cuts passed, many people had smaller refunds. This fact led lots of morons to think they paid higher taxes under the new code, when truth was they overpaid less taxes during the year. As if refund size is linked to the taxes paid. They let these people vote!
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