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:

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!

Ask this to the CPA who did you taxes. He or she should be willing to walk you through the calculations.

Yes, definitely make the CPA show you the calculations.