Vanessa A
Expert Alumni

Get your taxes done using TurboTax

Did anything change from previous years?  Did you make more money?  Did you have a child that turned 17 or graduated from high school or college?  All of these things will cause your refunds to drop.

 

The more you make the more you owe and if you did not have extra withheld and only had one employer, they probably took out an amount very close to what your total tax liability would be.  If you are single with no children and not in school, there are not a lot of credits available to change your taxes due.  This leaves your taxes kind of cut and dry.  

 

You have a tax liability on line 16 of your 1040 and you  have withholding from your job on line 25a of your return.  If you paid in more than you are liable for, that is your refund.  If you are liable for more than you paid in, then you would have to write a check to the IRS. So the amount of the refund does not necessarily indicate that you did something wrong.

 

Did you answer ALL the questions in TurboTax?  If not, it is possible that you missed out on some credits. So you can go back and make sure you didn't miss anything.  You can also double check your W-2 entries. 

 

 

If your employer is not withholding enough taxes or you want a bigger refund, you may want to complete a new W4 form for them. 

 

You can see your 1040 by clicking Tools>>Tax Tools>>View Tax Summary>>Preview My 1040

 

You can also compare your return from last year to this year to find out exactly what has changed on your return. 

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