Why do I half to pay so much

jessica4131985-g — Tue, 24 Feb 2026 03:32:05 GMT

Re: Why do I half to pay so much

Critter-3 — Wed, 08 Mar 2023 11:28:06 GMT

So much what ? Federal taxes ? State taxes ? TT fees ?

Re: Why do I half to pay so much

RobertB4444 — Wed, 08 Mar 2023 19:56:37 GMT

There are a number of reasons why you may owe more this year than in past years. Without looking at your particular situation it can be difficult to be sure, but here are some of the most common reasons why people end up owing more than they thought they would-

Their employer is not taking enough out of their paycheck for taxes - your employer is required to take enough out of your paycheck each pay period to at least cover your income tax bill at the end of the year. When you were hired you were asked to fill out a form (called a W4) that gave your employer instructions on how much or how little to adjust the amount they took out. If your employer makes an error in taking the information off that form, or if you make an error when filling it out, the result can be a big tax bill come tax time.

A lot of people are paying taxes as well as self-employment taxes because they were hired as contractors and weren't entirely sure what that meant. Being a contractor means that what you are paid for the year is shown on form 1099-NEC instead of on form W2. It also means that the employer who hired you is not responsible for taking those taxes out of your paycheck that they would be if you were a standard employee. If you are not expecting to have to pay that extra tax it can be quite shocking.

Additionally, for this tax year, there were a lot of changes to the tax law for after the pandemic. For the last two years there have been a number of credits (such as the earned income credit and the child and dependent care credit) that were much higher and as of this year returned to their pre-pandemic levels. Those credits dropping back down have caught many taxpayers by surprise.

@jessica4131985-g

topic Why do I half to pay so much in Get your taxes done using TurboTax

Why do I half to pay so much

Re: Why do I half to pay so much

Re: Why do I half to pay so much