LogFAQs > #895279261

As people mentioned, you only get back money if you overpaid. Sometimes its inevitable (if you have massive deductions, kids, special situations, etc), sometimes you can make up for it by just paying more with every paycheck.

In many other countries, if you're financially adept, you usually DONT want that. You want to pay as little as humanly possible on each paycheck, invest the money, and then do a lump sum payment as late as possible. You'll make way more money that way. The US is kind of special here where they charge interests on the taxes you didn't pay throughout the year (though even then, the interest rate is usually lower than what you'd make investing the money).

I'm not that good with investments (or rather, I don't have enough time to look into it), so I just pay as much as I can on my paychecks.

Even then, I'm looking at owing 30-40k this year when I file my taxes (well, for my wife and I together). That's going to sting.