Just curious. Will my financial aid cause me to owe money? I've had financial aid and grants in the past and it hasn't caused this. I'm curious.Answer Question
Answer by Magpie75 at 11:53 PM on Feb. 2, 2009
Answer by pupmom at 12:12 AM on Feb. 3, 2009
Answer by babyfat5 at 7:51 AM on Feb. 3, 2009
Are you asking what causes someone to owe back taxes? Owing the IRS for back taxes can mean that someone has back child support, previous years taxes they have not paid, and unpaid student loans.
If you are asking what causes a person to owe current year? That means that a person did not have enough withheld in their paychecks during the year. Sometimes people forget to have fed. income taxes withheld when they draw unemployment. Some have self employment, and if they do not make estimated payments during the year, they WILL owe.
Now if a person makes less than than their standard deduction + their personal exemption, then they do not owe, nor would they need to have anything withheld,b/c they would not have a tax liability anyway. You are welcome to learn more here in cafemom at: http://www.cafemom.com/group/filingtaxes2009
Answer by lifeasinoit at 8:17 AM on Feb. 3, 2009
Answer by Anonymous at 8:32 AM on Feb. 3, 2009