There are several reasons why you may owe taxes with just one W-2. The most common reason is you didn’t have your employer withhold enough taxes through payroll. Other reasons include:
- Fewer deductions
- Fewer Credits
- Change in your filing status
- Change in your income
For additional information, review the TurboTax Help articles: Why do I owe taxes? and Video: Why Would I Owe Federal Taxes?
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