<prompt> Human: Im sorry if this is a really rookie question but I always thought the income tax withheld, social security withheld, etc was the tax that I pay with each paycheck. But if I file for a tax return do I have to pay more taxes? I always thought I get money back but the more I look it up the more confused I am. Im single, student, part time, working near minimum wage.  <response>: I always thought the income tax withheld, social security withheld, etc was the tax that I pay with each paycheckYou are correct! However, withholding are only estimates! When you file a tax return, you are calculating how much you should be taxed for the whole year, and asking for a refund if you overpaid too much tax or paying the difference if you underpaid taxes.If you overpaid but dont file, the IRS gets to keep your money permanently after 3 years. If you underpaid but dont file, harsh penalties await you. 