MonikaK1
Expert Alumni

Get your taxes done using TurboTax

If your taxable income increased by $17,000 for 2022 over 2021, you can expect your tax liability to be higher and your refund lower unless you increased your withholding.

 

For Federal income taxes, the tax rate brackets for 2022 are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. To see how the tax brackets apply to you for this year and for a tool to determine your marginal (the highest part of your income) tax rate, see here.

 

Your spouse can ask his employer for a new W-4 form to correct the filing status, or you can have TurboTax prepare one. See here for more information.

 

This year, several tax credits have been lowered to amounts before the coronavirus pandemic—or eliminated entirely. This includes the Child Tax Credit, the Child and Dependent Care Credit, and more. Check if these changes are why your refund is lower.

 

Double-check your entries for income, taxes paid, and deductions to confirm they are correct. Compare the individual line items with last year's return as well, if applicable.

 

See this help article for more information.

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