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I owe $4,000 in taxes despite claiming "0" exemptions on both my military retirement 1099 and civil service W-2. How can I get more tax withheld throughout the year?

Forum|Forum|6 years ago
June 1, 2019
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My military retirement is $65,000 a year with my civil service income at also $65,000. My wife is a school nurse and makes $20,000 a year. We claim zero exemptions for all three income sources. Taxes withheld each year is approximately $16,000 but taxes owed is around $20,000 thus the $4,000 tax bill when filing. I assume the three separate incomes by themselves lends itself to a smaller than needed tax withhold. True? We use Turbo Tax software when filing so I haven't seen any other tax breaks to reduce my tax bill. I have a senior in college child and another one who graduated in May 2015 with their school funded via 529 accounts. Both children earned no income in 2015. Thank you.

TurboTax Deluxe Online

Best answer by BarbL

You can file a new W-4 with one of your employers and request that an additional amount of tax be withheld. On the W-4 form, there is a line to enter a flat dollar amount of additional withholding. (See attachment.) If you ask for an additional $300/month to be withheld, you will be in the ballpark.

You can also log on to MyPay and change your withholdings on your military retirement, rather than filing a new W-4.

A third option would be to make quarterly estimated payments, which would be applied to your 2016 tax bill.

BarbLAnswer

You can file a new W-4 with one of your employers and request that an additional amount of tax be withheld. On the W-4 form, there is a line to enter a flat dollar amount of additional withholding. (See attachment.) If you ask for an additional $300/month to be withheld, you will be in the ballpark.

You can also log on to MyPay and change your withholdings on your military retirement, rather than filing a new W-4.

A third option would be to make quarterly estimated payments, which would be applied to your 2016 tax bill.

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SweetieJean

This can happen when both spouses have taxable income. Try this tool:

https://turbotax.intuit.com/tax-tools/calculators/w4/

You can increase your military and Civil Service withholdings as well.