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Suddenly owe taxes this year with no changes to W4 or life situations
Last year, our taxable income was $134,799 with a liability of $20,266. We paid $21,143 and received a refund of $877. Since then, we have had no changes to our W4's, life, etc. We did make more money this year, resulting in a taxable income of $155,352. This put our liability to $24,283, but our W2's only indicated we paid $15,500. How is this possible to suddenly have $8,783 of taxes due when we made no changes at all? Could it be a mistake our employer(s) made on the amount of Federal taxes that were withdrawn? Any insight/help would be appreciated.
Thanks
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March 12, 2025
10:00 AM