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Ok, sorry for bringing this up again, but after searching thru old posts and getting dribs and drabs of the rule based on what applies to each poster, here is what I think I've gathered from it all:

If you owe more than $1,000 in taxes, then you are penalized for not having enough witheld during the year.

However, you may get out of this penalty if you have witheld at least as much in tax as you did for the previous year.

Is this right? I'm thinking of changing my witholding to get more dough in my paycheck and want to be sure of what I'm doing.....

All help appreciated, my motley fool tax guide is at home.....
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