Since Obama did something to have less taken out in Federal Taxes. I have spoken to several IRS Reps and accountants about this issue. Seems that is you are given a break on taxes You will end up owing, because the IRS won't change their brackets. Question is: Will this break end up back-fireing???
For some people it will decrease their refund or cause them to owe - people with more than one job, married dual-income couples who both have "married" on their W-4's, or people with a job AND social security or VA pensions.
For most people with one job and a low or moderate income, there should be no effect on the amount of a person's refund. This is because there is a make work pay credit that should exactly equal the reduced ampount of withholding.

In other words, on the IRS tax form will be a line for a credit. This credit will reduce your tax liability. This credit is the reason that people are having less taxes taken out.

There will be some people who may end up owing. For instance, someone who received the $250 payment for social security recipients who also has a job may end up owing. People who have multiple jobs and a higher total income may end up owing. But this lower withholding will NOT backfire for most people.
It's possible for some people.

Single people will receive a $400 credit on their 2009 return (Married = $800). In theory, this credit will offset the lower withholding but some people will have had their withholding reduced by more than the $400/$800 and will have to pay some of it back.

For a vast majority of people, the difference will be pretty minor.
it is very possible