I have finished tax deductions and breaks and my taxes owed amount has stayed the same. What is the deal?
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putt57
New Member

I have finished tax deductions and breaks and my taxes owed amount has stayed the same. What is the deal?

 
1 Reply
Anita01
New Member

I have finished tax deductions and breaks and my taxes owed amount has stayed the same. What is the deal?

You may owe some type of tax that is not decreased by deductions or credits, such as    self-employment taxes, penalties of some kind, etc..  Look at Schedule 4 of the 1040 to see where your tax is coming from.

Also, if you are already getting back all the tax you had withheld during the year, none of the these credits or deductions are going to help.

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