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Last year I had my husband adjust his exemptions so that we weren't giving the IRS such a big loan each year. I just finished our taxes this year, with the help of TurboTax, and we are still receiving a refund of a few hundred dollars. However, the wise tax disc now says we have to start paying estimated taxes for next year.

I looked in the FAQ about estimated taxes, but I must admit, I'm still confused. If we paid enough taxes in this year to get a refund, why are we being required to pay in over $1300 in estimated taxes? I don't have that kind of money lying around. It's as if we are being punished for not letting the IRS keep our money this year.

Thanks for any explanations you can give me about this!
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