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Ok Tax Time Im already freaking out?
so anyone know where I can go to figure out how much I owe I made 25,727.91 and my federal withheld is 1,607.78 and my Social Security was 1,595.13 and medical withheld is 373.03
6 Answers
- Uncle PennybagsLv 71 decade agoFavorite Answer
If you are single, no kids and rent, you can almost certainly use a 1040EZ form. Just go to IRS.gov and print one out and the instructions.
The form is extremely simple and you can probably fill the whole thing out in 10 minutes and know exactly what you will be getting back.
- 1 decade ago
$25,728 - $3,500 (personal exemption) - $5,450 (standard deduction) = $16,778 (taxable income). Tax = $2,115. Less $1,608 withheld
= $507 balance due.
This is assuming that you are filing as singl, have no dependents, and there are no other deductions. You might qualify for the Earned Income Credit (calculation that allows you to get some extra money back). I would recommend going to a VITA site to get your taxes done. They'll be able to help you out and prepare your return for free. They are all trained in the earned income credit and will know better once they have all your information if you qualify for this credit. To locate the nearest VITA site, call 1-800-829-1040.
- Anonymous1 decade ago
Relax. The taxes aren't due until April 15. You have plenty of time, Cindy.
- 1 decade ago
Are you married? kids to claim? age? all that will come into play but if your single -3500.00 and -5450.00 for exemption and standard deduction.Makes your taxable income 16778.00 The liability on that is 2115.00 .....Do you itemize? Own your home?
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