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Tax question- UPDATE!!

My husband didn't have any state or federal taxes withheld for 2010...
What does that mean now? Will we owe? He is still filing head of household and we have 2 claimable kids this year. Will we get any refund? We were really counting on that refund :(

Did our taxes! Federal refund is$7,230!!! We have 2 states to file for (going to do paper so it's free). Total state refund is $135.

Answer Question
 
Anonymous

Asked by Anonymous at 5:04 PM on Feb. 8, 2011 in Money & Work

Answers (11)
  • This depends on a lot. It also varies from state to state. Call your tax person, they will have a better idea.
    Aquarius80

    Answer by Aquarius80 at 5:06 PM on Feb. 8, 2011

  • You cannot get a refund if you did not pay. You may end up owing since nothing was withheld. Depending on how much he earned, there may be a credit due you for EIC. There is no way of knowing without knowing what he earned. Did he get a W2? Why didn't his employer withold anything? Did they take out FICA and medicare?
    tootoobusy

    Answer by tootoobusy at 5:08 PM on Feb. 8, 2011

  • Turbo and and HR block have free tax software of their sites . . . it may be worth a run-through of the numbers, so that you know whether to hold off on filing or not.

    Even with a very low effective tax rate, there usually is some that the feds a state will claim. The lower your income and the more deductions you have the better.
    ImaginationMama

    Answer by ImaginationMama at 5:10 PM on Feb. 8, 2011

  • Before you call the IRS, you need to get your facts. I do not know who this tax person they are telling you to call. (An accountant, Hand R Block, Jackson Hewitt). You can pm me if you like.
    tootoobusy

    Answer by tootoobusy at 5:11 PM on Feb. 8, 2011

  • Since he is head of household it really depends on your income level to give an accurate assesment (as well as others) but most likely you're in the group of people who actually get paid because of the amt of depends you have and only one of you working..
    Why would you count on an uncertain thing?? TAxes change year to year-- I would come up with a better strategy but at any rate. Next year, I would check the income statements monthly to ensure they are accurate...
    Camilletnt

    Answer by Camilletnt at 5:11 PM on Feb. 8, 2011

  • Did you work? Do you know what he is claiming at work? Most likely if you didn't work and he didn't pay anything in, you will owe money and certainly not get a penny back. Memo: Make sure you take money and set it aside if he will continue to be paid like this.
    itsmesteph11

    Answer by itsmesteph11 at 5:16 PM on Feb. 8, 2011

  • I didn't tell her to call the IRS. Don't people have an accountant they can call? That's who I call when I have a question. I highly doubt anybody on CM can give her an answer without all of the facts. Like I said taxes depend on so much.
    Aquarius80

    Answer by Aquarius80 at 5:23 PM on Feb. 8, 2011

  • Also, from the looks of ;the answers everyone just has more questons but no solid answer.
    Aquarius80

    Answer by Aquarius80 at 5:24 PM on Feb. 8, 2011

  • yes there are too many variables to taxes to be able to answer adequately.
    Camilletnt

    Answer by Camilletnt at 5:44 PM on Feb. 8, 2011

  • Camilletnt is right. It's going to depend on so many things. It seems kinda odd that they didn't take any taxes out. Are you sure on that? No social security, medicare tax? Nothing?

    Check out this tax calculator. That will give you an estimate of our tax liability:

    http://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1
    Erica_Smerica

    Answer by Erica_Smerica at 6:39 PM on Feb. 8, 2011

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