If your income is higher in 2019 than in 2018, you may want to review your return to make sure everything was entered correctly. While in TurboTax follow these steps:
- Select Tax Tools on the left hand side of your screen,
- Select Tools,
- Select View Tax Summary,
- Select Preview my 1040 on the left hand side of your screen.
Another thing you might be seeing is back in 2018, the IRS reduced the amount withheld from employee paychecks so people had more take home money. This was done because the IRS did away with the personal exemption and increased the standard deduction. The net affect of this has lowered the amount of refunds realized by the taxpayer.
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