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lunaplata
Level 1
Feb 28, 2023 8:42 PM UTC
Solved

Large tax increase

st year my federal tax due was about 600 dollars this year it is almost $2000 even though my income has not increased. Why is that?

    bluedeb
    bluedebAnswer
    Alumni - Champ
    Feb 28, 2023 8:56 PM UTC

    It could be because the IRS ended Covid 19 tax credits.  The only way to know is put last years and this years return side by side for a comparison.

     

    IRS ends COVID-19 tax credits

    https://www.foxbusiness.com/personal-finance/irs-filing-taxes-key-changes-2023

    View in thread

    2 replies

    bluedeb
    Alumni - Champ
    bluedebAlumni - ChampAnswer
    Alumni - Champ
    Feb 28, 2023 8:56 PM UTC

    It could be because the IRS ended Covid 19 tax credits.  The only way to know is put last years and this years return side by side for a comparison.

     

    IRS ends COVID-19 tax credits

    https://www.foxbusiness.com/personal-finance/irs-filing-taxes-key-changes-2023

      CarissaM
      Level 15
      Mar 2, 2023 5:11 PM UTC

      We would not have access to your return here If you would like a specialist to take a look at your return, please click here to give us a call. @lunaplata 

      **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
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