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New Member
posted Mar 31, 2024 9:25:00 AM

How and why is it that I have to pay when taxes are being taken out my check every week

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1 Best answer
Level 15
Mar 31, 2024 9:30:07 AM

Your tax liability is based on your taxable income.

 

If the total tax liability is greater than the total tax payments you will have taxes owed.

 

Look at your Form 1040 Line 24 and Line 33.  

Line 24 is your total tax liability.  Line 33 is your total tax payments entered.

 

You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

2 Replies
Level 15
Mar 31, 2024 9:27:45 AM

Th usual reason would be that you are not having enough withheld each week.   You can adjust the amount being withheld by changing the W-4 you give your employer.

 

 

https://turbotax.intuit.com/tax-tools/calculators/w4/ https://www.irs.gov/individuals/tax-withholding-estimator

https://www.irs.gov/pub/irs-pdf/fw4.pdf

 

https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN

 

Level 15
Mar 31, 2024 9:30:07 AM

Your tax liability is based on your taxable income.

 

If the total tax liability is greater than the total tax payments you will have taxes owed.

 

Look at your Form 1040 Line 24 and Line 33.  

Line 24 is your total tax liability.  Line 33 is your total tax payments entered.

 

You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.