Does anyone know the formula for computing payroll with-holding based on the number of exemptions on a w-4?

Question

My wife claimed zero on her w-4 form and I claimed 2 exemptions on mine. When I did my taxes this weekend it came out that we owed almost $1200.00. I don't see how this could be.

Answer 1

Publication 15 has the info. You can download it at irs.gov. It's not unusual for a married couple, both working, to end up owing if they claim all the allowances they're entitled to on their W-4's.

Answer 2

well in my accounting class, we used a chart that had the # of exemptions, the type like single, married, etc, and when you read it correctly it would give you the amount..you could probably find this on any respectful tax website