topic Why; was my refund less this year? in Get your taxes done using TurboTax

Why; was my refund less this year?

ymkmhm — Mon, 23 Feb 2026 13:09:32 GMT

Re: Why; was my refund less this year?

PattiF — Tue, 07 Feb 2023 02:37:00 GMT

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.

There are other events unrelated to the pandemic that may reduce your refund, including:

Starting an additional job (especially self-employment)
Getting a significant raise, but your W-4 staying the same
Adjusting your withholding to maximize your take home pay
Selling stock, crypto, or other investments
Filing status changed
Receiving unemployment benefits, but not having taxes withheld
Taking an early withdrawal from your retirement account
Having a child turn 17 in 2022, now receiving the Credit for Other Dependents instead of the Child Tax Credit
Started receiving Social Security benefits or Roth IRA distributions
Paying off your mortgage, so you can no longer deduct mortgage interest
Paying off your student loan, so you can no longer deduct the interest
Finishing school, so no longer eligible for certain education credits
Earning little or no income and not qualifying for the Earned Income Credit

If your refund is wildly off, double-check the amounts you entered. A typo of just one dollar can have a big impact on your refund.

Re: Why; was my refund less this year?

VolvoGirl — Tue, 07 Feb 2023 02:39:22 GMT

2022 refunds might be smaller. The IRS says....

Refunds may be smaller in 2023. Taxpayers will not receive an additional stimulus payment with a 2023 tax refund because there were no Economic Impact Payments for 2022. In addition, taxpayers who don’t itemize and take the standard deduction, won’t be able to deduct their charitable contributions.

Get Ready now to file your 2022 federal income tax return | Internal Revenue Service

And a couple credits like the EIC and Child Tax Credit went back to the old rules and amounts so you are not getting as much. 2020 & 2021 had special rule changes and higher credits.