Overpaying? Recalculate tax withholding

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As tax time nears, many of us begin to think about the amount of our federal income-tax refund or try to figure how much we may owe. 
Income taxes are based on the total income earned minus any allowable deductions. They must be filed by midnight April 15.
The majority of people have their income tax deducted directly from their paycheck. The difference between the actual amount owed in income tax and the amount paid is calculated once per year. 


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