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I owe over $1000 because of an error on my 1040?
On my 1040, I only claimed myself and nothing else (I have nobody or anything else to claim on my taxes). I proved that by visiting the office and on their file and it said I claimed "1." However, I made around $22,000 and only had $273 taken for taxes the whole year. Found this out when I got my w2. Turns out, their system put me for 5 exemptions. Yet on my 1040 I clearly put just 1.
Now I owe over $1000 to the IRS. Is there anything that I can do since I did everything the way I was supposed to, and their system made the error?
10 Answers
- Bostonian In MOLv 75 years agoFavorite Answer
Sorry, but there is nothing that you can do, other than to break out your checkbook and pay what you owe.
While you would only claim one exemption on your tax return, the problem is that you put 5 withholding allowances on your W-4. Even if you put some other number, you are responsible for how much tax is withheld. Even if your employer made a mistake when setting up your payroll account, YOU are responsible for your taxes, nor your employer.
YOU alone are responsible for ensuring that enough tax is withheld from your pay. You do that by checking your pay stub every payday. If you had been doing that you would have caught the error with the first paycheck and could have had it corrected. It's way too late for that now for tax year 2015.
File a new W-4 with your employer immediately so that you don't have a repeat of this next year.
- R PLv 75 years ago
What is comes down to is that you are responsible for paying the IRS what you owe.
it was your responsibility to be sure the correct amount of tax was taken from your check, Your employer doesn't owe the money since it was not taken from your pay.
You have until April 18th this year (yes, that is correct) to pay what you owe. Or, you can talk to the IRS and set up a payment plan; if you go that route, you will be paying interest and additional penalties, but it is probably easier than coming up $1000 all at once.
- ?Lv 75 years ago
you never paid any attention to your pay stubs? and nticed only $5 per week was getting withheld? you are responsible for reviewing your pay stubs and making sure everything looks correct - putting a "1" on your 1040 does NOTHING for your paycheck - you fill out a W-4 with your requested exemptions and give it to your payroll department - a 1040 is your tax return - you employer doesn;t get that - go talk to payroll and ask to see the W-$ form on file for you and see if you filled in 1 or 5 - it's possible they made a mistake entering the information into teh payroll system, but you still have to look at your your pay stubs
- Anonymous5 years ago
Keep in mind the employer owes you nothing since any money NOT withheld was in your paycheck.
The problems are that you have to now come up with the money and may owe an estimated tax penalty.
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- Anonymous5 years ago
YOU made the error, Darlin', by not reading & following the Instructions properly....you SEEM to be claiming that you went an ENTIRE YEAR without ever checking your pay-stubs!
Nobody (least of all the IRS) will believe that!
You need to find $1,000, and quickly, before you are assessed penalties for non-payment!
- Anonymous5 years ago
But you didn't do everything you were supposed to do. You were supposed to READ your pay stubs to make sure they were correct. That is why you are given a pay stub. You had all year to get this corrected.
Get out your checkbook.
- Anonymous5 years ago
Not everyone gets a return. Some people owe in taxes every year and you happen to be one of them.
- JudyLv 75 years ago
No. You got more in your paychecks than you should have. Now you have to give the extra back by paying the IRS.
- Wayne ZLv 75 years ago
No. There is nothing that you can do.
It is the employee's responsibility to make sure that enough is withheld.