I am a single, working person and I was filing Single 2 for 2 months of this year. I then changed it to Single 1 until June where I switched to Single 0. I should technically be filing Single 1 - so I thought filing Single 0 for half of the year would make up for the Single 2 I was filing for the first two months of 2006. I just did my taxes and it says I owe $400. I don't see how this is possible! Can anyone tell me why?
Taxes - If I am filing Single 0 for most of the year how do I still owe?
Having taxes witheld at single 1 would put you around the break even point. You may owe a little (less than $250) or you may get a little. So owing $400 is not too bad considering your status changes throughout the year. Just to be on the safe side, I'll tell you like I told all my clients (volunteered to prepare taxes for the military for a few years)... if you are single and are not able to itemize deductions, claim single and 0 and you will never owe. You won't get a lot back but you may get something.
Reply:how many dependents do you have?????? You are allowed one (yourself) and any dependants you have. If you don't care about the feds taking out more money in taxes (which I DO NOT) then you file zero the ENTIRE year.
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