Actually, we should all attempt to withhold the least amount for taxes from paychecks as possible. When you let them take out more than necessary you are giving them an interest free loan - even though you get your “refund” in a timely manner. I’m shocked at the number of people who deliberately withhold more than necessary from their paychecks so they can get a “big check from the government” every spring. This should be a lesson for all of them.
I’ve done that for several years, and paid my taxes (which are staggering, as in 7 digits) and the IRS got pissed even though I sent a check for the full amount (one penny over, actually, just to be funny) on April 14.
They demand quarterly extra -— as in I get a “refund” -— or they fine the heck out of me.
Exactly.