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Rave-Unicorn-Votive t1_j6bqwy2 wrote

>there is a disclaimer that "If you don't complete this form, your employer is required to withhold income tax at the highest default status".

That just means "withhold as single", it doesn't take into account anything else in your financial situation and there's no guarantee it will be correct for your situation.

What are box 1 and 2 on your W2?

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ichosetobehere t1_j6c1txe wrote

I have a very basic situation, single, standard w2 income, some interest and dividends from savings/brokerage accounts. 1 & 2 were around 200 and 38. Default withholding seems very low

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Rave-Unicorn-Votive t1_j6cu9rh wrote

The total tax liability on $200k is ~$44k, so if you had $38k withheld and still owe $10k you either have a typo in the data entry or you are grossly understating "some interest and dividends".

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MarcableFluke t1_j6c4onv wrote

You only made $200 in taxable income last year? How much did you make from interest and dividends?

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