No business, no student loans, no dependents. 23, work full time, file the same every year. Why do I owe money?
02388
2 Replies
NellyW2
Returning Member
Jan 15, 2020 3:52:11 PM
You likely owe because the tax being withheld from your paycheck is not enough to cover your total tax liability each year. The less tax that is withheld during the year, the more likely you are to end up paying at tax time. I would suggest that you adjust the amount being withheld from your paychecks. The IRS has a tool that will help you get a refund next year: IRS Tax Withholding Estimator.