Is anyone else getting raped this year on taxes?

Question

Just when I thought they couldn't take enough, I find out I owe another $1400.

Answer 1

No I have a child so I made out really good!

Answer 2

I haven't done mine yet, still waiting on two W2's, both companies wait till the last possible minute to send them. I think it all depends on what you claim as to what you pay out through out the year then at the end, or that's what I've always heard. I'm hoping we get some back, but if I break even and not have to pay anything to either the Federal or State I'll be happy. Most places if you don't have the funds up front will let you do a payment system.

Answer 3

I used to get it every year. Now though we claim 0 dependents and we are raising 2 of our 7 grandchildren. They live with us full time and they are the joy of our lives. Since we have changed our number of dependents and we have taken in 2 babies, we get back a lot of money every year. We keep getting letters and notices from the I.R.S. stating that we need to change the number of dependents so we don't get as big a refund every year but we refuse to do it. I would rather they pay us a chunk of change every year than the other way around. I hated it. Every year no matter how much we paid we still owed more.

Answer 4

No, I live in the US. Our tax bite (complaints not withstanding) are some of the lowest in the industrial world. Sure beats the tar out of living in Europe!

Answer 5

You need to look carefully at your paycheck withholding (W-4). If you are making money outside of work, or have your own business, you need to account for that as well. I personally claim less deductions on my paycheck, that way I know I'm covered come April.