While it’s certainly better to overpay your taxes than underpay them, if you find that you’re consistently and significantly overpaying in taxes and your primary income comes from W-2 wages, it may be a good idea to revisit your Form W-4.
Changes occur over time, but you may not have considered updating/adjusting your Form W-4 withholding to compensate for those changes. As such, your withholding may no longer align with your current situation. Updating/adjusting your Form W-4 withholding may be the answer.
Granted, who wouldn’t like getting a big refund at tax time?
But sometimes it’s better to have that cash on hand than wait until tax time.
As always, consult with a reputable CPA or tax professional for guidance on your tax situation and to avoid over-adjusting your tax withholding.
PRODUCTS YOU MIGHT LIKE:
Disclaimer:
Links below may include affiliate/referral links. This site may earn a commission or referral fee, at no cost to you, if you make a qualifying purchase through an affiliate/referral link. As an Amazon Associate, this site earns from qualifying purchases.
Quicken Classic - https://amzn.to/4tELGhs