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Thread: Taxes Question

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    #1

    Taxes Question

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    Sorry if this is tacky, but I can't seem to google an answer and the guy at H&R was completely clueless.

    So I'm hoping someone might be able to answer a string of questions. We filed our taxes the other day and while we are no where near the bracket to pay the IRS, something happened that once I filed it completely drained DH's return. Like we lost almost $1000.

    So today I called my HR department at work to talk about my W4, and they told me I filed as "Married with 1 exemption" which she said was normally what people file. The thing is, as soon as I saw my W2 I knew something was up. I made just a little over $10,000 this year and they only took out $145 in Federal taxes.

    I knew that wasn't right, but I can't figure out why it would have messed us up so badly. We have never owed the IRS any money, so why this year?
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    #2
    We lost that much too, and I made the same amount as you last year. I paid no fed taxes because that's just how my employer did stuff. Actually we lost a little more because the combined income dq'ed us from the Earned Income Credit. Annoying, but not too surprising. It just deducted what I owed on my 10k from his return amount. I like having paved roads and policement and stuff but watching that number tick down on TurboTax was like GIVE IT BAAACK
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    #3
    Do your pay stubs match what the W-2 says?
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    #4
    Quote Originally Posted by SingWeJoyous View Post
    We lost that much too, and I made the same amount as you last year. I paid no fed taxes because that's just how my employer did stuff. Actually we lost a little more because the combined income dq'ed us from the Earned Income Credit. Annoying, but not too surprising. It just deducted what I owed on my 10k from his return amount. I like having paved roads and policement and stuff but watching that number tick down on TurboTax was like GIVE IT BAAACK
    I just don't understand what changed? Last year we didn't pay anything, but I also didn't work for this company. Glad I'm not alone though

    Quote Originally Posted by Jazmine View Post
    Do your pay stubs match what the W-2 says?
    I don't get pay stubs since I'm direct deposit.
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    #5
    Quote Originally Posted by OctoFranky. View Post
    Sorry if this is tacky, but I can't seem to google an answer and the guy at H&R was completely clueless.

    So I'm hoping someone might be able to answer a string of questions. We filed our taxes the other day and while we are no where near the bracket to pay the IRS, something happened that once I filed it completely drained DH's return. Like we lost almost $1000.

    So today I called my HR department at work to talk about my W4, and they told me I filed as "Married with 1 exemption" which she said was normally what people file. The thing is, as soon as I saw my W2 I knew something was up. I made just a little over $10,000 this year and they only took out $145 in Federal taxes.

    I knew that wasn't right, but I can't figure out why it would have messed us up so badly. We have never owed the IRS any money, so why this year?
    I paid 99.00 in federal taxes and only made 1,350 give or take a few dollars. 145 seems like an error somewhere....
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    #6
    Even with your direct deposit, there should still be pay stubs. You can request copies from your HR department. It might take a few days to get but then you can compare it to your W2. On your pay stubs, they should have your withholding information too. The $145 just seems too low. Maybe it's a mistake on their end?


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    If I remember correctly...

    If you have exemptions on your W4 they take less out of your pay check for taxes every month...so you get more take home pay throughout the year and sometimes you have to pay the government more at tax time.

    if you have no exemptions on your W4 they take out more of your pay check every month but you almost always get money back come tax time.

    ALSO, They are legally required to give you pay stubs even if you direct deposit, check with your Payroll/HR department. I know we went "green" and now they are all online.
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    #8
    Quote Originally Posted by jerseyatheart86 View Post
    Even with your direct deposit, there should still be pay stubs. You can request copies from your HR department. It might take a few days to get but then you can compare it to your W2. On your pay stubs, they should have your withholding information too. The $145 just seems too low. Maybe it's a mistake on their end?
    I agree. I have been a tax preparer for a while now and employers have been known to make mistakes. If you can get a copy from them to check the withholding that would be best. If the withholding is correct then you need to adjust your W-4 for this year or you will end up in the same boat. Before I had my daughter I claimed "Single-0) on my W-4, which means they withheld a larger amount every month and I barely received a refund. It would probably be best to change your W-4 to Married-0 or Married but withhold at a higher rate. Just a few suggestions.

    If you qualify for any income based credits (EIC is a big one) adding your income may have caused a reduced credit which will reduce your refund.
    I hope you get everything figured out. I know how frustrating it can be when the person who is to be helping you doesn't know what to do.
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    #9
    Do you remember how much you told them to take out of each of your paychecks? For mine I told them to take out the very minimum, and my Mom will have me pay the taxes when she files them. It is just easier that way for her.

    Also remember, a lot of the money you "get back" at tax time is really just money that you overpaid during the year.
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    #10
    Quote Originally Posted by azarmygf View Post
    Do you remember how much you told them to take out of each of your paychecks? For mine I told them to take out the very minimum, and my Mom will have me pay the taxes when she files them. It is just easier that way for her.

    Also remember, a lot of the money you "get back" at tax time is really just money that you overpaid during the year.
    I have them take out more because I don't trust myself enough to put it away each pay period to pay the IRS.


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