Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
jillkathleenhale
New Member

Can you explain why I owe taxes when my income is so low?

 
2 Replies
MelaineC
Level 1

Can you explain why I owe taxes when my income is so low?

The only way a taxpayer ends up owing taxes is if enough taxes were not deducted from their payroll throughout the year.  To learn more, please see the informational TurboTax video; Why Do I Owe The IRS.

BobinCT
Level 7

Can you explain why I owe taxes when my income is so low?

Very likely it is not income tax but self employment tax that you are looking at.  If you have more than $400 of self -employment income (including most 1099-MISC) you have to pay about 15% of that.  But it's not income tax.  It's Social Security and Medicare.

Dynamic AdsDynamic Ads
Privacy Settings
v