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If I were not still on strike, I would say the following. It is because you are smart and because you may have other income such as dividends and capital gains. Your taxes do not change if you do or do not get a refund (let's call it that; the return is the 1040 in customary parlance), just the time at which you and Uncle Sammy have settled up.

Some people need to overwithhold, because they would just go out and spend the money if they didn't, and then they'd not have the owed taxes on April 15.

I've got some income from rental apartments and withhold with 0 exemptions and even have extra taken out. This frees me from having to file quarterly. Maybe your circumstance is similar.

Back on strike.
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