If you finish your tax return and are confused as to why you need to send the IRS a check, there is only one possible explanation for this: you paid less tax during the year than you owed for your income level. The more allowances you report on your W-4, the less tax that is withheld from your paycheck..
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Every year around April 15, you'll hear adults of all ages groan about "tax day." That's because federal and state income tax forms are due around that time. But .
If you're facing a hefty student loan balance, then you may have already considered pursuing student loan forgiveness to avoid having to pay back your loan.
As an accountant myself I miss things on my tax return. I know I do. It's nearly impossible not to unless you file peoples taxes for a living..
The portion of households that owe no income tax is a popular talking point on cable television and talk radio but relies on a cleverly selective reading .