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why do IM STILL owe to federal?

 
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2 Replies

why do IM STILL owe to federal?

What do you mean by "still" owe?   If you mean that your TurboTax account shows that you owe tax due---that is not going to change.   TurboTax never knows how, when or even if you paid your tax due.  TT gets no updates from the IRS or state when you pay.    Your account will always show that the result of the tax return you prepared using the software showed a tax due amount.   Your proof that you paid your tax due will be your own bank or credit card record.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
LindaS5247
Expert Alumni

why do IM STILL owe to federal?

There are many factors involved to determine what you owe for federal taxes, or if you owe more federal taxes than you expected.

 

These include the following:

Additional Income: 

Did you have any new sources of income? 

You made more money at your job such as overtime.

If you work multiple jobs, you may have to change your withholding.

Did someone in your household start working or change jobs?

The TurboTax W-4 Withholding Calculator is a free tool to help you find the right withholding. 

 

Less Deductions:

Did you donate less to charity?

Did you not make an IRA contribution?

Did you move to another state?

Did you have less medical expense deductions or less mortgage interest?

 

Fewer Credits:

If your income has increased, your Earned Income Credit may have gone down.

Did you have education credits that have gone down or ended?

Did your Child and Dependent Care credit change? You had more income or your children are older.

Was your Child Tax Credit affected by your income or age of your children?

 

Filing Status:

Changing your filing status has a big impact on your taxes.

If you have changed your filing status from married filing jointly to married filing separately it will have a big impact on what you owe.

 

If you experienced any of these changes during the tax year it would have impacted what you owe.

 

Click here for additional information on why you may owe more taxes.

 

Click here for more detailed information on why you owe federal tax.

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