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erikdowning1995
New Member

I have two w-2 because i switched jobs the first was 22 tousand and it was saying my refund was about 6g but when i put in my second w-2 it droped to a refund of 4000 why is that is it because with my

 
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BMcCalpin
Level 13

I have two w-2 because i switched jobs the first was 22 tousand and it was saying my refund was about 6g but when i put in my second w-2 it droped to a refund of 4000 why is that is it because with my

There are multiple possible explanations.

The withholding tables are based on the income from your current job (the one W-2). Thus if you have one job, the withholding will be appropriate. But if you have two jobs such that the income from the second job pushes you into another tax bracket, then neither withholding will have been sufficient.

Furthermore, a number of items are depending on your Adjusted Gross Income - the more W-2s, the higher the AGI. But credits like the Earned Income Credit start getting smaller (until it disappears) as your income increases.

We can't see the rest of your question, but these are likely reasons why your refund dropped.

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BMcCalpin
Level 13

I have two w-2 because i switched jobs the first was 22 tousand and it was saying my refund was about 6g but when i put in my second w-2 it droped to a refund of 4000 why is that is it because with my

There are multiple possible explanations.

The withholding tables are based on the income from your current job (the one W-2). Thus if you have one job, the withholding will be appropriate. But if you have two jobs such that the income from the second job pushes you into another tax bracket, then neither withholding will have been sufficient.

Furthermore, a number of items are depending on your Adjusted Gross Income - the more W-2s, the higher the AGI. But credits like the Earned Income Credit start getting smaller (until it disappears) as your income increases.

We can't see the rest of your question, but these are likely reasons why your refund dropped.

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