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Author: Mustang108 Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 118611  
Subject: Tax withholding election change Date: 2/6/2004 1:12 PM
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This year I have about $3800/- in tax returns. That's about $316/- in tax overpayment every month in 2003.

My wife is a home maker and we have two infants.

Would it be wise on my part to chagne my tax withholding elections so that this year (2004) that $316/- more will be available as additional income? (((Please assume I will not change my tax savings account contributions to 401(k), Health Care Spending A/C etc.

What should I be careful about when changing my tax withholding?

How can I make sure to avoid underpayment of taxes?
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