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    heating's Avatar
    heating Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 11, 2007, 11:52 AM
    Why do I owe the IRS $50 dollars?
    Hello everyone,
    I recently gave my tax information to a CPA and he told me I will probablt owe the IRS about $50.My question is how after paying $600 in taxes on a $6000 401k and also paying $900 in taxes on my regular 1040 form on a taxable income of $4150.I also drew unemployment last year after losing my job due to a Tornado and the taxes there were $800 dollars on an unemployment amount of $6150.How could I possibly owe the IRS $50?
    Thanks so much if anyone can tell me
    Josh sharpton:confused:
    Lord_Darkclaw's Avatar
    Lord_Darkclaw Posts: 295, Reputation: 38
    Full Member
    		  
    #2

    Feb 11, 2007, 12:20 PM
    Who knows? I've heard it said that the american tax system is so complicated and contradictory that there isn't a single human being on the face of the Earth who understands how it works!
    jeffp's Avatar
    jeffp Posts: 30, Reputation: 7
    Junior Member
    		  
    #3

    Feb 11, 2007, 12:52 PM
    Ask this to the CPA who did you taxes. He or she should be willing to walk you through the calculations.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 11, 2007, 10:52 PM
    Yes, definitely make the CPA show you the calculations.
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