Taxable income (no capital gains or dividends) is $50748. Tax tables show $8453 tax owed. Taxes withheld are $4097. $8453 - $4097 = $4356. You have $4450 owed. Why?

dalehannon — Thu, 06 Jun 2019 09:19:21 GMT

Without having the ability to look at your return I am go...

Phillip1 — Thu, 06 Jun 2019 09:19:22 GMT

Without having the ability to look at your return I am going to make a guess that the figure on line 79 of your form 1040 tax return is the reason for the difference. Check this by subtracting the amount in line 79 from the amount in line 78. If the result is 4,356 dollars, this is the issue.

The IRS assesses a estimated tax penalty for returns with a balance due if the following is true:

You owe more than $1,000 in tax after subtracting their withholding and estimated tax payments, and
You paid less than 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller.

topic Taxable income (no capital gains or dividends) is $50748. Tax tables show $8453 tax owed. Taxes withheld are $4097. $8453 - $4097 = $4356. You have $4450 owed. Why? in Get your taxes done using TurboTax

Taxable income (no capital gains or dividends) is $50748. Tax tables show $8453 tax owed. Taxes withheld are $4097. $8453 - $4097 = $4356. You have $4450 owed. Why?

Without having the ability to look at your return I am go...