There can be times when instead of receiving money may end up with a tax bill. Tax return can be affected by major life changes. Some of the reasons may be: 1) Starting a side business: 2) Getting married: Married couples who file their joint tax return may face a higher tax bill. 3) Filing for Divorce: For some people, becoming single could also mean landing in a higher tax bracket, especially if their spouse earned significantly less money -- and brought them into a lower tax bracket. 4) Tapping into your retirement account: People who will withdraw money before retirement will have to pay 10% penalty tax unless it is for medical emergency. 5) Selling your home: Any gains from selling a home will be reported as capital gain and is subject to 20% tax if owned for more than 1 year. 6) Losing job: Some people may not realize that income received from unemployment benefits is taxable. 7) Receiving an inheritance: If you inherit an asset that they would have owed taxes on, that asset is now taxable to you. 8) Winning a vacation: Winners typically owe income tax on cash prize. Read more at : http://www.dailyherald.com/article/20170409/business/170409110/