zapata
I just calculated my taxes and realized I may have a huge federal refund (Over 10k) I know this was my mistake for not adjusting w4 correctly in 2007. I feel stupid already, anyway !!!
After working for couple of years, last year my wife did not work and suddenly many deductions/credits that were not available earlier became available. (Add to that I did not change W4 to reflect single income (from 2 jobs 2 income scenario)
My question is, is having such a huge refund a red flag for audit? I don't have a complicated return and can prove everything in 1040 and other forms. Still just curious.
I will now be tracking taxes each quarter and chang W4 accordingly. Well, one learns from mistake !!!
After working for couple of years, last year my wife did not work and suddenly many deductions/credits that were not available earlier became available. (Add to that I did not change W4 to reflect single income (from 2 jobs 2 income scenario)
My question is, is having such a huge refund a red flag for audit? I don't have a complicated return and can prove everything in 1040 and other forms. Still just curious.
I will now be tracking taxes each quarter and chang W4 accordingly. Well, one learns from mistake !!!