Will I get a refund, or will I owe?
It all comes down to how much tax was paid during the year compared with your real tax. The W-4 form you give your employer controls how much comes out of each paycheck.
Refund vs owe
Ali had $5,800 withheld and his real tax is $5,020. He gets a $780 refund.
Hamza drives for Uber with a $40,000 profit and had nothing withheld. His federal tax, including self-employment tax, comes to about $7,400. Unless he paid quarterly estimates, he owes about $7,400 in April, possibly with a small penalty, plus New York tax.
Sources: IRS: Tax year 2026 inflation adjustments · IRS: Self-employment tax
Control your paycheck withholding
- You fill out a Form W-4 when you start a job. It tells your employer how much federal tax to hold back.
- Two jobs, or a spouse who works? Use the multiple jobs section, or too little may be withheld.
- New York has its own form, the IT-2104, for state withholding.
- A big refund isn’t free money. It is your own money returned without interest.
Sources: IRS: About Form W-4 · NY Tax Dept: Withholding certificates (IT-2104)
Feels complicated? Worried about a mistake? We’ll do it for you.
Taxes are not rocket science, but one wrong box can shrink your refund or bring an IRS letter months later. If your return feels confusing, bring it to us. Book now for the coming season and we’ll prepare your 2026 return, filed in early 2027.
Why people trust us with their taxes
- A licensed CPA, not just a tax preparer or agent. A licensed CPA prepares and reviews your return and stands behind it.
- The best prices in the market. Every return is different, and we price yours to match what it needs.
- Free consultation to look at your situation and your 2026 and 2027 plan.
- Security: your documents and money decisions are handled by a licensed professional.
- Your language: English, Urdu, Hindi and Punjabi.
Frequently asked
Why do I owe this year when I got a refund last year?
Common reasons: a second job, 1099 side income with no withholding, a change in your W-4, or a child aging out of a credit.
Can I avoid owing next year?
Yes. Adjust your W-4 or pay quarterly estimates. We can calculate the right amount in your free consultation.
Sources: IRS: Tax year 2026 inflation adjustments · IRS: Self-employment tax · IRS: About Form W-4 · NY Tax Dept: Withholding certificates (IT-2104)
Figures and rules on this page come from the official and published sources linked above, as of November 2026. People and numbers in the examples are made up to explain the idea. This page is general information, not tax or legal advice for your situation, and laws change; check the linked source or ask a licensed CPA before you act.
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