More Taxpayers Will Owe The IRS In April Because Of Underwithholding, Report Says

Three events caused me lots of headaches. One year I did not withhold enough. One year I received back pay. One year my ex filed bankruptcy and the joint debt became my problem. I negotiated on her CCs and van debts. To add insult to injury, I had to pay taxes on the forgiven amounts.

If anyone looked at the W-4 calculator they would have seen the variance. I added and subtraction one dependent and my bi-weekly paycheck and it dropped and increased (respectively) almost $200. So January will tell the story on how great this postcard 1040 form will be and the massive tax break the rest of the us are getting.

Your tax break for the little guy.