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WCP1
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Increase in Federal tax from 2021 to 2022

My 2021 Federal tax payment was $50.00, 2022 Federal tax payment is $500.00 with no increase in income, why the increase?

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2 Replies

Increase in Federal tax from 2021 to 2022

WCP1,

Not seeing your specific situation (no one in this forum has access to your tax returns, a very good thing), I do note that the IRS did warn that many people would see smaller refunds or bigger amounts owed because COVID relief provisions expired for the 2022 tax year.

Increase in Federal tax from 2021 to 2022

The best way to see what happened is to put the 21 and 22 tax return side by side and review them line by line. Did your withholding change? Did you fill in a new W-4 form last year? If you did that could be your issue since the new withholding tables on the new W-4 forms I meant to keep you as close to zero as possible on your return.

 

If you have a specific line question that you don't understand then you can post that in this forum and we'll try to explain it to you.

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