I made 35,000 last year taxes were held out this y...
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I made 35,000 last year taxes were held out this year I only made 25,000 got almost 9,000 back last year this year I owe over 2,000 why

 
2 Replies
Level 15

I made 35,000 last year taxes were held out this year I only made 25,000 got almost 9,000 back last year this year I owe over 2,000 why

Nobody here can see your 2019 and 2020 tax returns to compare them which is what you should do - compare them side-by-side line-for-line to see what is different.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Level 15

I made 35,000 last year taxes were held out this year I only made 25,000 got almost 9,000 back last year this year I owe over 2,000 why

Could be any number of reasons.  First, $9,000 is an awfully large tax refund, so 2019 may have been an unusual year (or did something wrong).

 

Start by checking your data entry for any errors, especially commas, decimal points and extra zeroes.  Then  look at your 2019 and 2020 returns side by side.   You said you "made" $25,000 in 2020.  Did you receive unemployment comp as well?  If so, it's taxable, but no taxes may have been withheld. Any other type of income?  Did your income change from wages (W-2) to self-employment, perhaps?  There are extra taxes for that.

 

Your EIC might be different from 2019.  Did any of your dependents turn age 17 in 2020?  If so, you lost the Child Tax Credit.  Also look at 2019 and 20920 side by side.  Something may stand out.

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