turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I dont understand why i have a $18 penalty. My W2 reflect my statis--single w/zero exemptions...yet turbo tax is telling me that I didnt pay enough taxes

I dont control what fed gov takes out.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MarilynG1
Expert Alumni

I dont understand why i have a $18 penalty. My W2 reflect my statis--single w/zero exemptions...yet turbo tax is telling me that I didnt pay enough taxes

Actually, you do control what the Feds take out of your pay, with your Form W-4.

 

If you only have one employer, and you Filed as Single, with Zero Exemptions, you should be fine at tax time.

 

Did you have any other W-2's or 1099's for part time income that didn't have any taxes taken out?  If so, this could cause you to owe tax.   

 

If you have a 401K available at work you can join, this is a good way to 'hide' money from taxes, while saving it for your retirement! 

 

Here's more info and a video on Why Do I Owe Tax?

 

@katjasinski 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies