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Deductions & credits
You may have to consider more than just income tax when you are looking at the increase.
If some of your income is self-employment income, then that income is subject to both income tax and self-employment tax (15.3%). Therefore, if some of the overall increase in income was due to higher self-employment income, then some of the increase in tax is also due to higher self-employment tax.
You should take a closer look at your returns for 2019 and 2020 side by side to see where the changes took place. That may help you to understand the differences.
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March 29, 2021
7:25 AM
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