answersLogoWhite

0


Best Answer

You must complete state and federal tax returns or seek the advice of a tax service that can review your situation and explain your tax liability.

You are the only one that has all of the necessary information that will have to be reported on your 1040 FEDERAL income tax return for the year in order to do the calculation for the numbers that you are looking for. After you complete your 1040 federal income tax return correctly to page 2 Line 44 you will know the amount of your income liability before any credits or other taxes. Continue from Line 45 to the last lines at the bottom of the 1040 page 2 and then you will know how much taxes you will have to pay if any after you complete your 1040 income tax return correctly.

Federal taxes are the same throughout the United States. State taxes may vary and they usually follow federal guidelines. Whether you have to file a tax return (or pay tax) depends, in part, on your filing status, deductions, amount & type of income.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How do you know how much taxes are owed?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How much taxes are owe on 20000?

How much taxes are owed on 20000


How do people working for the IRS know if one has back taxes owed?

People that work for the IRS have a wide variety of financial and tax information available to them, so it's easy for them to know if a person has back taxes owed.


What was the connections between the Three Fifth Compromise and taxes?

3/5s of all slaves were counted to figure out how much states owed the federal government in taxes


How much taxes would be owed on thirty thousand dollars?

four thousand


Who pays taxes on estate that is controlled by the executor?

The executor of an estate uses the assets of the estate to pay any taxes or other debts owed by that estate. If it should turn out that the taxes owed exceed the value of the estate, then the executor pays as much as the estate consists of, after which there is no longer an estate.


What was the connection between the three fifths and taxes?

3/5s of all slaves were counted to figure out how much states owed the federal government in taxes


What is a deferred taxes payables?

The taxes which is owed by a corporation in the goverment authority.


Can you include taxes owed from 2007 in a Chapter 12 bankruptcy filed in 2008?

I believe you pretty much have to.


Where do I go to find out what houses in my town are for sale for the back taxes owed?

Where do I go to find out what houses in my town are for sale for the back taxes owed?


What was the connection between the the three-fifths compromise and taxes?

3/5s of all slaves were counted to figure out how much states owed the federal government in taxes


What was the connection between three-fifths compromise and taxes?

3/5s of all slaves were counted to figure out how much states owed the federal government in taxes


If I paid taxes and didn't get a refund will I get a stimulus check?

As far as I can tell, the stimulus check is more about the taxes you paid. The amount you would get is calculated on the amount of income and taxes you paid.