2023 Tax withholding
Hi, my spose and I (filing jointly) have made ~82,000/year and ~87,000/year, respectively. We have paid ~15,000 in taxes (maximum of taxes during 2023 according to our W4), and yet we have tax due of ~7,500. This income is from our W2 and we don't have other sources of income or anything else. It says that we should have paid ~22,000 in taxes in 2023. I guess my main question is how does the tax withholding gets calculated? I was looking at pg.4 on the W-4 form, and looks like we're within the estimated tax withholding range, hence not sure where is the 22,000 getting calculated from? Any insight on this would be very helpful, especially how does the tax withholding gets calculated yearly so we don't have to pay this much at the end on top of what we pay during the year. Thank you in advance. Best, Klausa
