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Only 509 taken out of a w2 of 51000 and received underpayment notice from irs

I just received a  notice from the IRS that  I owe over $ 10,000 where they say my employer declared my income on a w2 of $ 51000 with only 509 dollars in taxes.  What can I do about this

 

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4 Replies

Only 509 taken out of a w2 of 51000 and received underpayment notice from irs

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Only 509 taken out of a w2 of 51000 and received underpayment notice from irs

If the amounts are accurate you should pay what is owed as soon as possible. Discuss withholding with your employer and give them a completed W-4. 

Only 509 taken out of a w2 of 51000 and received underpayment notice from irs

Deleted

 

Ouch ....messed that up with wrong test file...should have known my test file tax amount was "off"

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Only 509 taken out of a w2 of 51000 and received underpayment notice from irs

We can't see your return or notice.  for example, with only $51K w-2 as income your taxable income would likely be only $38K. the tax net of the withholding on that as single for 2022 would at most only be about $3900. The $10K bill would indicate that for some reason the IRS found more income or something else that would increase your tax liability significantly. read the notice. it should provide details or call the IRS. without more info we can't help you. 

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