I made around $15,000 more than the previous year. But still in the same tax bracket22% Nothing else changes i got back over $1,000 last year. But i owe $40.00 this year

donovanmoser23 — Tue, 10 Feb 2026 11:07:36 GMT

Re: I made around $15,000 more than the previous year. But still in the same tax bracket22% Nothing else changes i got back over $1,000 last year. But i owe $40.00 this year

Mike9241 — Wed, 21 Feb 2024 07:52:06 GMT

since we can't see your returns compare 2022 to 2023 line for line. many changes in the tax laws.

one explanation could be that while your takes went up $3300 (22% on $15K) your withholding only went up $2,300. many other reasons are possible for the change. There is nothing unusual about your situation.

Re: I made around $15,000 more than the previous year. But still in the same tax bracket22% Nothing else changes i got back over $1,000 last year. But i owe $40.00 this year

xmasbaby0 — Wed, 21 Feb 2024 13:54:30 GMT

More income = more tax

We cannot see your screen, your return or your account. Have you entered ALL of your 2023 information? All your income, etc.? Many tax documents that you need do not arrive until late January or even February, so maybe you do not have it all there yet.

Lots of tax laws changed. Those changes are resulting in lower refunds for lots of people.

There is no recovery rebate credit (stimulus $) for 2023. The childcare credit is less and is not refundable. The child tax credit is different and it is less. And for some people, earned income credit is different because there is no “lookback” to an earlier year. Those are some of the reasons your refund may be less.

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…..the child tax credit is very different for 2023 For 2021 you could get $3600 for a child under 6 or $3000 for a child between 6 and 17 even if you had no income/did not work. That is NOT the way it will work for your 2023 tax return. The “old” rules are back. The maximum amount of the child tax credit is now $2000; the refundable “additional child tax credit” amount is $1600. In order to get that credit, you have to have income from working. The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1600. If your child is older than 16 at the end of 2023, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.

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

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/L97JmhUbi_US_en_US?uid=ld9ijm41

Print out 2022 and 2023 and compare them side by side to see what is different.

https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN

topic I made around $15,000 more than the previous year. But still in the same tax bracket22% Nothing else changes i got back over $1,000 last year. But i owe $40.00 this year in Get your taxes done using TurboTax

I made around $15,000 more than the previous year. But still in the same tax bracket22% Nothing else changes i got back over $1,000 last year. But i owe $40.00 this year

Re: I made around $15,000 more than the previous year. But still in the same tax bracket22% Nothing else changes i got back over $1,000 last year. But i owe $40.00 this year

Re: I made around $15,000 more than the previous year. But still in the same tax bracket22% Nothing else changes i got back over $1,000 last year. But i owe $40.00 this year