Apparently you have not been having enough tax withheld from your paychecks and you need to change that for the upcoming year to avoid the same problem at tax time next year. If you had more than one employer it is easier for that to happen because each employer only withholds for that job and that amount of income. When combined with your other income, the amount withheld is not enough.
https://turbotax.intuit.com/tax-tools/calculators/w4/
https://www.irs.gov/individuals/tax-withholding-estimator
https://www.irs.gov/pub/irs-pdf/fw4.pdf
information? All your income, etc.?
Lots of tax laws changed. Those changes are resulting in lower refunds for lots of people.
There is no recovery rebate credit (stimulus $) for 2023. The childcare credit is less and is not refundable. The child tax credit is different and it is less. And for some people, earned income credit is different because there is no “lookback” to an earlier year. Those are some of the reasons your refund may be less.
There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc. You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17? If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC) Are you 65 or older ? If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.
And…..the child tax credit is very different for 2023 For 2021 you could get $3600 for a child under 6 or $3000 for a child between 6 and 17 even if you had no income/did not work. That is NOT the way it will work for your 2023 tax return. The “old” rules are back. The maximum amount of the child tax credit is now $2000; the refundable “additional child tax credit” amount is $1600. In order to get that credit, you have to have income from working. The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1600. If your child is older than 16 at the end of 2023, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/...
Print out 2022 and 2023 and compare them side by side to see what is different.
https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN
If you owe tax due, you have to pay it yourself by the filing deadline on April 15, 2024.
If you have federal tax due you can pay by mailing your payment with the 1040V voucher, (which has the address printed on it, having the payment taken out of a designated bank account, or you can pay directly on the IRS website.
https://www.irs.gov/payments
https://ttlc.intuit.com/community/tax-payments/help/how-can-i-pay-my-federal-taxes/00/26212
https://ttlc.intuit.com/community/tax-payments/help/how-do-i-pay-my-irs-tax-due-with-a-check-or-mone...
To apply for a payment plan with the IRS
Apply Online for a Payment Plan
You must pay your state tax due using the state’s preferred method of receiving payment. For most states that will be by making a payment to the state’s own tax website, or by mailing a check or money order.
https://ttlc.intuit.com/questions/1900884-what-are-my-options-for-getting-my-state-refund-or-for-pay...
https://ttlc.intuit.com/questions/1901670-how-do-i-contact-my-state-department-of-revenue
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
