After the fiasco from last year I decided to change things up a little. I modified my withholdings to max out the amount i can withhold from my paycheck. I also added some fake income on top of that for the higher withholding category, and i also added in an extra withholding on top of that just in case. At this point I have my withholdings set to 60% per paycheck. I think the idea is that i get a bigger refund later on so i hope this works. I know the IRS has been stalling a lot of refunds lately, but i guess its better to get money back than to owe money to the IRS. Although I could be wrong
If you do withhold slightly less than required for a tax season you will always owe money. You then take the money you owe and roll that into a 0% introductory APR credit card and pay it off during the 0% APR period.
In essence you're using negative inflation dollars (0% APR over 21 months) to pay off the IRS amount due
CovidHoldout -1 points 1.7 years ago
If you do withhold slightly less than required for a tax season you will always owe money. You then take the money you owe and roll that into a 0% introductory APR credit card and pay it off during the 0% APR period.
In essence you're using negative inflation dollars (0% APR over 21 months) to pay off the IRS amount due