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Tax refunds tend to look bigger as you start your tax return.
The first W-2 is ‘shielded’ by your tax return standard deduction. Subsequent W-2’s are entered after your standard deduction has been ‘used up’ and the ‘refund meter’ tends to reflect the income and withholding of each W-2 that you enter.
Here are some things that could have led to a smaller refund or you owing a tax bill.
Have you input all of your tax documents? Many tax documents are not required to be issued until January 31.
You may want to review this.
Has everything been entered correctly? You can view the tax return to see what has been entered.
Tax refunds tend to look bigger as you start your tax return.
The first W-2 is ‘shielded’ by your tax return standard deduction. Subsequent W-2’s are entered after your standard deduction has been ‘used up’ and the ‘refund meter’ tends to reflect the income and withholding of each W-2 that you enter.
Here are some things that could have led to a smaller refund or you owing a tax bill.
Have you input all of your tax documents? Many tax documents are not required to be issued until January 31.
You may want to review this.
Has everything been entered correctly? You can view the tax return to see what has been entered.
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