Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 1 month ago

Have you ever had to pay in on taxes rather than getting a tax return? How much?

19 Answers

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  • 1 month ago

    1. Yes

    2. $200.

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  • Anonymous
    1 month ago

    Of course.  During 1999 when I was CTO of a startup company, I was pulling down 300,000.  Then Bush screwed the whole US "up the butt dot com" let 9/11 happen.  I never had to PAY taxes again

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  • 1 month ago

    NO ONE EVER gets a tax return. You FILE a return and may or may not get a REFUND. Last year, I owed about $75 when I filed because I INTENTIONALLY adjusted my withholding so I didn't give the IRS an interest free loan.

    Note: YOU pay in on taxes with EVERY paycheck. That is what withholding for taxes is.

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  • 1 month ago

    If your smart enough you won't have to pay a frickin dime to big brother commie gov. Some call it tax evasion, I call it the ninth point of the boyscout law .. THRIFTY !!

    PS i have been a proud aegle scout for 31 years... AND COUNTING

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  • 1 month ago

    Sure, a few grand...but I had accounted for that....

  • 1 month ago

    Yes, once or twice.. I think it was less than $200.00.

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  • Anonymous
    1 month ago

    Plenty of times. Thousands.....

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  • 1 month ago

    Only once. I pulled some money from an IRA to use as a down payment on a house and the combination of tax and penalty on the withdraw resulted in owing a bit. I knew it was coming because I calculated my projected tax return before I made the decision to pull the money out.

    I'd say that it was worth the tax hit since I sold that house 3 years later at a $100,000 profit.

    Other than that, no. I have a large family and even with a good income the generous tax credits for dependent children result in me having a $0 tax liability plus a refund through refundable credits. So I have virtually nothing withheld from my checks and still get a refund.

    When my kids grow up and I no longer qualify for those credits I'll owe plenty of taxes, and I'll adjust my withholding so that I just barely cover my tax bill. My goal each year will be to come within $500 of my tax liability - either a refund under $500 or owe less than $500. But I'll enjoy the child tax credit while I can.

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  • Anonymous
    1 month ago

    A tax return is the paper or electronic file the taxpayer sends the taxing authority.

    Perhaps you're referring to a tax refund.    You get a refund if you overpay your tax.   You owe if you underpay your tax.     Neither of these things affect your total tax bill one bit.

    Yes, many people have done both of these things because it's virtually impossible to know how much tax you owe - to the penny - until you complete your tax return. 

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  • DEBS
    Lv 7
    1 month ago

    Yes.  I've successfully gotten to pay many times.  The amount you owe for the year is the amount you owe.  There is no reason one should be happy about overpaying throughout the year.  How much is highly irrelevant.

    • Right! When we overpay, we let the government draw interest on money that could've been paying us interest. It's like savings that pay us 0% interest.

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