Retirement tax questions

Are you referring to the 2017 tax  year refund that you received in 2018?  The tax laws changed drastically after 2017.  For the 2018 return--which you filed in 2019, and for your 2019 return which you filed in 2020, your standard deduction nearly doubled.  

 

 

No one in this user forum can see your tax return or your screen.  There were major tax law changes that began with the 2018 tax year that seem to continue to surprise some people.  Personal exemptions of over $4000 per person were removed beginning with 2018 returns.

One thing that may be affecting your refund is that employers began withholding less tax when the new tax law passed.  Your paychecks were more, but that means a smaller refund now. 

There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc.  You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17?  If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC)  Are you 65 or older ?  If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.

 

 

And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.

https://ttlc.intuit.com/questions/1901008-why-did-my-refund-go-down-compared-to-last-year-s

 

Print out 2018 and 2019 and compare them side by side to see what is different.  The lines are different so it is tricky---but with careful attention you may spot the reason for the difference.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**