Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
The total tax due and interest and penalties depends on a variety of factors. For example, are you single, married filing joint, married filing separate, or head of household?
In addition, is the $69,000 your taxable income
, or is it the amount of income you made in a year? If the latter, you must realize that there are exemptions and deductions
you can take that will lower your tax.
Penalties depend on what penalties are applied. It's impossible to know what penalties the IRS will impose. It depends on the reason for the tax assessment
, the judgment of the IRS, etc.
We could possibly give you an estimate if $69,000 is your taxable income, and if you claim the standard deduction
. We could also give you a rough estimate of interest; however you would need to add penalties and interest on the penalties once you know which penalties apply to your situation.
Luckily it shows you are in Texas. There are no state taxes in Texas so you won't owe any tax on your income. This is good!
1) filing status
2) is $69,000 your total income or taxable income
3) what type of penalties you expect to be subject to