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Reply to "Is it possible to owe money in taxes with 0 exemptions?"
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[quote=Anonymous]Not too long ago we were hit owing a bunch (around $8k, which is a lot for us). With changes in the tax code our employer (public school district) didn't withhold enough and we were caught off guard. Since then we each have a few hundred extra withheld from each pay period. We used to be able to itemize, but they lowered the standard deduction which made that no longer an option. We'd be better off with the state (VA) if we could itemize, but since we have to do standard federal VA requires we do the same. We have always claimed zero currently have one DS in college. We still owed a few thousand last year. [/quote]
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