In a nutshell, over-withholding means you’ll get a refund at tax time. Under-withholding means you’ll owe. Many people try to get as close as possible to even so they get more money in their paychecks during the year, but don’t owe a lot or get a bigger refund at tax time.

Why do I owe more federal taxes this year?

That said, the answer to “why do I owe taxes this year?” might have to do with economic shifts due to the coronavirus pandemic. Receiving unemployment income, taking on an extra job or self-employment are all plausible causes for your refund amount changing from year to year.

Why did I get a refund last year but owe this year?

Your employer likely decreased the amount of federal income tax they withheld from your paychecks in 2018. You should have seen the withholding changes in your checks around the end of February 2018. So, instead of getting a big refund at the end of the year, you received more money in your paychecks.

What happens if I make a payment before April 15th?

If I’ve scheduled a payment to be deducted from my bank account before April 15th, will DOR change the payment date now that the due date has been changed to May 17th? No. If you take no action, your scheduled payment will still be withdrawn from your bank account on whatever date you originally chose.

Is the ultimate customer a consumer or an intermediate customer?

An ultimate customer may be a consumer as well, but just as equally may have purchased items for someone else to consume. An intermediate customer is not a consumer at all.

What makes a customer different from a consumer?

A customer may or may not also be a consumer, but the two notions are distinct. A customer purchases goods; a consumer uses them. An ultimate customer may be a consumer as well, but just as equally may have purchased items for someone else to consume.

Who are internal customers and who are external customers?

Internal customers are usually stakeholders, employees, or shareholders, but the definition also encompasses creditors and external regulators. Before the introduction of the notion of an internal customer, external customers were, simply, customers.