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My state tax refund is only $14 why I paid way more in taxes

mayoman15999 — Fri, 09 Oct 2020 16:44:13 GMT

Re: My state tax refund is only $14 why I paid way more in taxes

Anonymous — Fri, 09 Oct 2020 16:53:11 GMT

So you paid way more in taxes. Normally, from what you paid there would be subtracted what you owe (your tax liability) so you end up with a small refund. Do you have a reason to think you had no tax liability? you didn't provide your state. If you did we could tell you what lines on the state return to look at.

Re: My state tax refund is only $14 why I paid way more in taxes

VolvoGirl — Fri, 09 Oct 2020 16:56:07 GMT

I think a small refund is good. You don't owe more and you didn't let the IRS or state keep your money all year. You should try to come out even (zero) at the end of the year on your tax return.

Re: My state tax refund is only $14 why I paid way more in taxes

DoninGA — Fri, 09 Oct 2020 16:56:49 GMT

The amount of taxes withheld (paid) is almost equal to the amount of taxes you owed on your taxable income.

Look at your state tax return for the taxes owed on the taxable income. It will show that the taxes owed were $14 less than the amount of taxes withheld (paid). So you get a refund for the overpayment.

That is good tax planning since you should not want to pay more in taxes than is required based on your taxable income.