All 3 of my kids owe the irs money

[msgme]

Yesterday we went to our accountant to sign all the paperwork and stuff to file our taxes and all 3 of my kids owe money. This is a first. Lol

[agander2017]

How old are your kids?

[Ladyiq]

My college age daughter called us in a panic because she did her taxes and it said she owed. She didnt clear 3000 last year. She filed an extension so we could look into what happened. Its just odd.

[msgme]

How old are your kids?

16,20 and 22
The older two are in college.

[agander2017]

Yikes! I wouldn't think at 16 someone would owe money. Hopefully it's not a large amount!

[msgme]

Yikes! I wouldn't think at 16 someone would owe money. Hopefully it's not a large amount!

No just a little less than $30. My 20 year old tho owes a few hundred.

[LiveWhatULove]

I always owed money when my parents claimed me!!

But it was pennies compared to what the hell I owe now, lol!!

[carterscutie85]

My college age daughter called us in a panic because she did her taxes and it said she owed. She didnt clear 3000 last year. She filed an extension so we could look into what happened. Its just odd.

The IRS tried that with me too the first year I ever worked a legal job. I don't think I even made 3 grand either. I took the letter to their office and they claimed they didn't know why they sent me that letter and that I didn't owe. I ended up getting a small refund.

[Traci_Momof2]

Ladies, look at the withholdings compared to last year. The IRS adjusted the laws so that many people have a lower tax amount, but they also adjusted the withholdings so less was taken out of paychecks for 2018. But they overadjusted the withholding tables so peoples' withholdings went down too much and many people either got a smaller refund or actually ended up owing a little bit.

Your CPA should have given you a year on year comparison and if you look at your withholdings from 2017 to 2018 (assuming your income stayed relatively the same and you didn't change your W4) then you will see a big drop in withholdings. So you had more money in your pocket throughout the year from your paychecks. Now it's just time to pay some of that back.

[Hot4Tchr-Bieg]

Yup...they get a little back from the feds and pay it back twice to the state. One of my daughter's w2's was from Dollar Tree. They withheld exactly zero dollars for state.