Amount You Will Owe This Year

The total amount you will owe this year - will be the total amount of Federal or State taxes you will owe, and of course will pay, for the current year. It must be estimated because part of the current year is still ahead.

It is also called your total tax liability for the current year. It will be equal to the total State or Federal taxes you will owe, including payroll deductions, year-end tax filing payments, and after subtracting refunds.

Return to Payroll Deduction Calculation