I did not receive the first stimulus check, I now owe 422 dollars in taxes, is there a reason for me owing now?

[tayreu23]

I input the amount I received on turbotax and it said I will now owe

[Grandma_T]

@tayreu23 It depends on your income and how much you had withheld in federal taxes. I'm sure there are other factors as well.  I would find it unusual also if I didn't get the first stimulus to owe tax; but it could be accurate.  I would double check my numbers and make sure you entered everything accurately. If you own a home, get your real estate taxes for that entered.  If you worked, but didn't have anything withheld, then owing makes sense. It just all depends.

[LenaH]

It depends. There are a lot of factors that could affect your tax refund/amount due from year to year. Sometimes, taxpayers have a tax liability due. This occurs when there was not enough taxes paid throughout the year. In addition, the Recovery Rebate Credit will not eliminate all of your tax liability. The credit (on Line 30 of your 1040) will either decrease your tax owed or increase a refund. 

Some of the most common reasons you could owe tax are:

• Less income tax was taken out of your earnings
• You were in a higher tax bracket due to earning more money
• You child turned 17 and no longer eligible for the Child Tax Credit and are now receiving the Credit for Other Dependents
• You no longer qualified for the Earned Income Credit
• You paid off your student loan and cannot deduct any student loan interest
• You are no longer eligible for education credits
• You took on an additional job
• You sold investments
• You had a distribution from a 401k that was not related to Covid-19
• You had a change in filing status

Since we cannot see your return, it would be best for you to compare your 2020 return with a previous year return to determine the reason you would owe tax this year. 

@tayreu23