[Olga316K]

Last year I made $27,298. I paid $252 in taxes then I got a later
That the amount is wrong and I owe another $392. I paid that to.
Later on TV I hear President Bush say that all the families with
Children under 18 (my daughter was 16 and I am a single mother) got a
Tax return. I had amended my tax return and it turned out that I can
Get back $8. Please tell me is it fair? Any advice well is welcomed.

Thank you for your time,

Olga

[Ahuactl]

Last year I made $27,298. I paid $252 in taxes then I got a later
that the amount is wrong and I owe another $392. I paid that to.
Later on TV I hear President Bush say that all the families with
children under 18 (my daughter was 16 and I am a single mother) got a
tax return. I had amended my tax return and it turned out that I can
get back $8. Please tell me is it fair? Any advice well is welcomed.

Thank you for your time,

Olga

Another late reply, but I just got here.

A single parent, with a 16 year old child, making $27,298 in 2003 would have, absent any non-obvious deductions and credits, a tax liability of $742. You say you paid only $644. Something doesn't add up. I suspect a number of relevant details are missing.

[Olga316K]

That's OK for late reply. I didn't expect anyone would reply after so long. What information do you need to make things add up?

Olga

[Ahuactl]

Were the $252 and the $392 your total federal tax for 2003, or were they what you had to pay over and above your withholding? How much was your withholding? What reason was given for the $392.

[Olga316K]

$252 was a total federal tax. Later I reseved the later that I owe $392 becase of a mistake that was made.

Olga

[Ahuactl]

$252 was a total federal tax. Later I reseved the later that I owe $392 becase of a mistake that was made.

Olga

Based on the information you have given, your adjusted gross income (AGI) was $27,298. Your taxable income (TXI) would be $14,198,

AGI... 27,298
Minus standard deduction... (7,000)
Minus 2 exemptions... (6,100)
... --------
TXI... 14,198

The tax on $14,198 for 2003 was $1,626. You had a $600 child tax credit and $382 in earned income credit.

Tax before credits... 1,626
Less CTC... (600)
Less EIC... (382)
... ------
Tax due... 644

My original calculation of you tax before credits was off by a bit. It appears that your tax is correct.

As to Bush's statement, either you read something into it or a politician lied. What are the chances of that?

It appears that you're not having enough tax withheld to cover your liability. It might get worse before it gets better. If your daughter turned 17 in 2004, you can't take the child tax credit. If she is attending college or an accredited trade school, look into the Hope credit.

[Olga316K]

Thank you for the information.