Vanessa A
Employee Tax Expert

State tax filing

If you made $20, 653 more this year than last year, that would cause your tax liability to increase.  If you look at line 16 of your form 1040, you will likely see that this number is higher as well.

 

if nothing else changed with credits, then look at your withholding amount on line 25.  If this amount did not increase enough to cover the difference on line 16, then this is why you owe.

 

Also, was any of the income from self-employment?  If it was and that increased, you would be paying higher self-employment taxes. 

 

If this was from increases in income from work, one or both of you may  need to fill out a new  W-4 with your employers to have more taxes withheld throughout the year. In the meantime, if you are unable to pay your taxes in full, you should still file by April 15th, but you can apply for a payment plan from the IRS.  When you get to the end of TurboTax, prior to hitting file, it will give you the option to apply. 

 

 

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