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I made 22K last year. They took 1500 in federal taxes and 1000

in state. When I filed...
I made 22K last year. They took 1500 in federal taxes and 1000 in state. When I filed my taxes it said i owed 800 to federal and 400 to state. I've asked and spoke with multiple tax places but they give me a run around. Any thoughts as to why I would owe?
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Answered in 20 minutes by:
7/23/2013
jgordosea
jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3,161
Experience: I've prepared all types of taxes since 1987.
Verified

Greetings,

 

Presuming you are single and use a standard deduction with no other income, the 2012 allowable standard and exemption of 3800 and 5950 would give taxable income of 22000- 9750= 12250 .

Tax at single rate on that is about $1406

 

If you only had wages that 1500 federal income tax withheld that would leave about $ 94 refund.

If the 1500 taken out was also for FICA and Medicare that would not leave enough to pay the 1406 of income tax.

 

 

You would also owe if you had income that did not have tax withheld (probably on Schedule C) or penalty on a retirement account that was taken before age 59 1/2,disabled or dead.

 

If it was all from wages and the 1500 was all for income tax you should not have owed federal tax.

 

Please do tell me if the income was other than wages.

 

Please ask if you need clarification (or want to look at the state after we know what exactly was the type of income and type of withholding.)

Thank you.

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Customer reply replied 4 years ago

I will go ahead and note, I have yet to file my taxes, I had to file for extensions due to being out of the country for a period of time.


My total income for that job was $21973. They took $1572 in federal taxes, 915 in SS, $316 in medicare and $1023 in state. I had another job on my taxes but I only made $3100. And after looking at my w2's again, I notice they only took $3 in federal and $8 in state.


Could that have anything to due with having to owe so much? I would've thought my larger income-job would have offset that.

Hello again,

 

Indeed the income of $3100 with only $3 federal and $8 state would result in a balance due (or needed to be covered by other sources of withholding).

 

As we saw in my first answer there was less than $100 left from the first job to help pay the tax on the second job. That is actually the design of the W-4 allowances to pay in just enough to cover the one job.

 

Changing the federal income to add the second job ( single and use a standard deduction), the 2012 allowable standard and exemption of 3800 and 5950 would give taxable income of 25073- 9750= 15323 .

Tax at single rate on that is about $1864.

 

Tax of 1864 less 1575 federal tax withheld is about $289 due by my calculations.

 

The state will be similar since the $3100 had little or no state as well as federal tax withheld.

 

You may want to check on the form you have filled out to see if all of that 1575 is showing on the federal tax withheld (line 62 on Form 1040 or line 36 of Form 1040A.

 

Please ask if you need more help.

Thank you.

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Customer reply replied 4 years ago

I'm going through my tax forms now. I must have started filling out the wrong form. I'm not sure how I overlooked that. Thank you for your help!

You are quite welcome.

 

 

jgordosea
jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3,161
Experience: I've prepared all types of taxes since 1987.
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