present participle of owe
"The company is owing millions in back taxes to the government."
owed as a debt
"outstanding bills"
"the amount still owed"
"undischarged debts"
Still to be paid; owed as a debt.
"The bill remained owing until I sent in my payment last week."
In plain English: Owing means having money that you owe to someone else and haven't paid back yet.
"He has been owing money to his friends for weeks now."