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What would happen if I earned over $6,000 during 2019, in previous years I have earned less than $6,000?

Would I be put in a tax bracket where I have to pay more than what has already been subtracted?
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2 Replies
DJS
Alumni
Alumni

What would happen if I earned over $6,000 during 2019, in previous years I have earned less than $6,000?

If your asking whether your current withholding would be sufficient to cover your tax liability if you earn $6000 more in 2019 than in 2018, there is no way to answer that question without knowing your 2019 taxable income and the withholding that you established with your W4. Your taxes will be higher than in 2018, but we couldn't say whether that will put you in a higher tax bracket or whether your withholding is adequate.

Answers are correct to the best of my ability but do not constitute legal or tax advice.
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rjs
Level 15
Level 15

What would happen if I earned over $6,000 during 2019, in previous years I have earned less than $6,000?

Are all of the following true?

  • You are single.
  • You are under 65 years old.
  • You are not blind.
  • You earned $12,200 or less in 2019.
  • Your earnings of $12,200 or less were all from a job where you will get a W-2.
  • No one can claim you as a dependent.
  • You did not receive Advance Premium Tax Credit for health insurance from the Marketplace.

If those statements are all true, you do not have to pay any income tax for 2019. If tax was withheld from your pay, when you file your 2019 tax return you will get a refund of all the tax that was withheld.


If any of the statements above are not true, you have to provide more details in order for someone to assess your tax situation.


For a faster answer, you can use TaxCaster to estimate whether you will owe any tax. TaxCaster is at the following link.


TaxCaster

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