How can I calculate how much tax I owe? 4 Answers as of December 03, 2010I qualify for and claimed exempt status on my taxes because I was exempt last year. However, I am working full-time now, and even though I have not worked full-time all of this year, I have worked enough to owe a considerable amount. How can I calculate how much tax I owe? Does the exempt status make my taxes confusing enough that I should hire someone to file for me?
Mankus & Marchan, LTD | Tony Mankus
It is not clear what you mean by "exempt status," but I would definitely seek assistance from a good accountant or CPA to help you prepare the 1040 tax return. The amount due will be computed after the tax return is prepared.
Answer Applies to: Illinois