Americans are preparing taxes throughout the country to submit to the IRS, and many are excited to see bigger refunds. This may actually be a mistake.
When you get a bigger refund, it’s because you paid the IRS too much money throughout the year.
You can change this so it doesn’t happen next year.
You may just adjust what your employer withholds from your paychecks.
If you’re self employed you can lower the estimated taxes you pay.
Check out the IRS withholding estimator tool to see what you should have withheld from your checks.
Don’t pay less than you owe, or you risk being fined.
If you get back thousands in taxes, your withholding is incorrect and should be adjusted.
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