But you may be hit with the marriage tax penalty, meaning you and your spouse pay more taxes as a couple than if you were filing as singles (which you can't do after "I do" … sorry). The penalty only kicks in if your combined income is $693,750 or more, or if you live in ...
Whether you plan on a refund or are worried about how to pay your tax bill,CNBC Selecthas some advice to help you survive tax season. If you’re expecting a refund Ongoing inflationhas forced a lot of Americans to tighten their belts: More than a third (37%) of taxpayers expecting refu...
If your income fluctuates unpredictably, accurately estimating your tax burder becomes more difficult. But following the steps above should help you get close to a reasonable number. If you find that it is necessary, you can redo your W-4 several times during the year if necessary. What’s t...
If you haven’t, then send in a payment making up the difference by Monday. For some people making less than $200,000, the 20% calculation may overestimate your tax liability but that will protect you from getting hit with penalties, he said. If your household in...
The IRS has restrictive guidelines for determining who needs to file, which means even if you don't owe, you may still have to submit a tax return.