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Tax Forms for Federal and State Taxes TurboTax Intuit

Tax Forms for Federal and State Taxes TurboTax Intuit

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Hello, I'm Sara from TurboTax with some important information for taxpayers who need to make additional tax payments on April 15th. Every year certain taxpayers are surprised that they owe additional income taxes even though their employer withholds taxes from their paycheck each week. This is not as uncommon as you may think, and there are many reasons why it could happen. Remember when you first started your job and your employer had you fill out a W-4 form? Well, the more allowances you claimed on that form the less tax they will withhold from your paychecks. The less tax that is withheld during the year the more likely you are to end up paying at tax time. But you can avoid this happening again by making changes to the form. Essentially the number of allowances you claim relates to your filing status and the number of dependents you anticipate claiming. If you over estimate your dependents or choose a filing status that you are ineligible for then your withholding will alwa

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