Hi Jeanettealexander77!
So you want to revise your W-4 so that you get a tax refund next year? So, you can fill out the W-4 in a way that will get you a bigger refund, but, that will just mean smaller paychecks throughout the year. Any changes on the W-4 just change the timing of when taxes are paid to the IRS.
So let’s talk about what will really change your refund—tax deductions and credits!
Here are the most popular ones. TurboTax asks you all the right questions to make sure you qualify and claim the taxes you are eligible for, but sometimes mistakes are made when reading the questions, so I’m glad you’re here asking about it!
- Earned Income Credit – helps low income, but must have worked to get this credit
- Child Tax Credit – You must also have worked to get this credit (some years, like during covid, the government was more relaxed about the working requirement). Earn too little, you don't get the full credit. Earn too much, you also don't get the full credit.
- Dependent Care Tax Credit
I encourage you to read the links above to learn how these credits are calculated. It will really help you feel confident you are maximizing your tax refund!
