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My return this year is 4K, though I haven't hit the final button yet, 7K last year, 8K the year before. No significant income changes or anything. What could cause this?

 
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2 Replies
VictoriaD75
Expert Alumni

My return this year is 4K, though I haven't hit the final button yet, 7K last year, 8K the year before. No significant income changes or anything. What could cause this?

We cannot see your return. However, one way to feel confident is to compare your previous tax return with the current year. The format of the 1040 has changed from 2018 to 2019, so you cannot compare line numbers. Be sure to review by line description. Some important lines to consider are total income, taxable income, tax due, total payments, and refund or balance due. This will give you an idea of whether or not you may have left out anything before you file.

 

Also, take into consideration any job changes, life changes (marriage, new home, dependents, etc.) that may affect your return. Consider whether or not you have included all sources of income on your return, such as W2's, interest, dividends, or any income from self-employment. Review the Deductions & Credits section of TurboTax to make sure you have taken advantage of all potential tax breaks. Finally, be sure to run the review on the return to look for any potential errors.

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My return this year is 4K, though I haven't hit the final button yet, 7K last year, 8K the year before. No significant income changes or anything. What could cause this?

You were getting that big of refunds with W2 wages?  Wow.  

 

One reason is the IRS changed the withholding tables so you got more in your checks during the year instead of a big refund.  And there are other tax changes.  And any dependents you have are a year older.  If you made more income that can reduce some credits you got like the EIC.  

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