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1 reply

E
ErnieS0
April 17, 2022

The 2020 tax liability will auto-populate if you owe tax in 2021. Last year’s tax liability is used to calculate any underpayment penalty that may be added to your tax return.

 

Self-employment is not the only reason you may owe tax. Your withholding could be too low or you may have other types of income such as investments or rental property where no tax with tax out that’s causing you to owe.

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