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Does paying about $8750 in federal taxes and getting only $165 back sound right to you?

Author : E

Submitted : 2018-02-26 03:07:09    Popularity:     

Tags: federal  paying  sound  taxes  

I've just tried filing my 2017 taxes online. I've earned about $7000 more in 2017 than the previous year with some extra teaching I did. So, my wages for 2017 was around 62K. I received about $564 for 2016 federal return and paid $62 that I owed f

Answers:

probably right. Was any of your income on a 1099, not on a W-2?

Seems very correct

Yes, this seems quite correct.

Your refund is irrelevant. All it is is giving you what you overpaid.

It's impossible without the additional information:

1. your filing status
2. how much Federal and state tax was withheld
3. total itemized deductions or if you just take the standard deduction
4. additional deductions you get such as children.
5. What was deducted for Federal and state income taxes

Assuming you take a standard deduction and have no other eligible deductions, that would take your AGI to $55,650.

Federal income tax would be $9652

Go to a tax accountant. Perhaps in 2017 the more accurate amount of tax was withheld compared to 2016. Or you had more deductions or credits or dependents in 2016. We dont know.



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