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New Member
posted Jan 23, 2021 6:28:12 AM

Why do I owe taxes when they have been taken out of every form of income?

0 2 448
2 Replies
New Member
Jan 23, 2021 6:30:00 AM

Is it because I claimed myself and my 3 children as dependents on my w-2's

Level 15
Jan 23, 2021 7:50:02 AM

Yes.  Or, in general, your withholding wasn't enough.   Withholding is just an estimate of the final tax due.  It's unrealistic to expect to be exact.  "Everybody" either owes or gets something back.