Recent experimental findings have shown that tantalum single crystals display strong anisotropy during Taylor impact testing in stark contrast to isotropic deformation in polycrystalline counterparts. In this study, a coupled dislocation dynamics and finite element model was developed to simulate the complex stress field under dynamic loading of a Taylor impact test and track the intricate evolution of the dislocation microstructure. Our model allowed us to investigate detailed motion of dislocations and their mutual interactions and the effect of varying simulation parameters, such as sample size, initial dislocation density, crystallographic orientation, and temperature. Simulation results show good agreement with experimental observations and shed light on the mechanical response at small-scale under extreme loading conditions. In addition, resolved shear stress analysis incorporating the effect of shear stress from impact was performed to quantitatively support and provide a means to understand the model predictions of the impact foot shape.