I just did my Federal income tax online and I am recieving $1200 back. I then attempted to do my state taxes and it says that I owe $1003 dollars. Every year I get a $1500+ tax refund, why would this year be different?? Why do I owe money? Could I have made a major mistake?
PS: I am a single 26 year old male...standard deduction
2007-04-10 15:40:37 · 2 answers · asked by Mrmojo6068 3 in Business & Finance ➔ Taxes ➔ United States
If nothing changed much in your income or personal situation this year, then this year should look a lot like last year. Lay last year and this year's returns side by side and see if you can spot where the difference is other than what you get back or owe. Sounds like something might be wrong.
2007-04-10 18:03:52 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Look at amount made last year and amount you paid in tax. Is there a huge change for 2006? did you make more? have less withheld?? if there is no major change,, check things over on the return, maybe a mistake in the way you entered the data.
2007-04-10 22:45:31 · answer #2 · answered by Jo Blo 6 · 0⤊ 0⤋