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Any changes?

Always file the same. Usually get around the same each year. Why am i receiving 2000 less? Is it because i got a raise and made more? Any changes tax wise? I dont get it. 

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2 Replies

Any changes?

More income = more tax

 

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

 

https://www.postbulletin.com/news/business/tax-preparers-warn-your-refund-may-be-smaller-than-usual/...

**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.**
Anonymous
Not applicable

Any changes?

we can't see your returns so the exact reason is unknown.     even though your wages are higher in 2019, withholding should have also increased to compensate but maybe it didn't.    A lot depends on the W-4 you submitted for 2019 w/h.      compare the 2018 and 19 returns.  note that if wages went up 10% withholding would have to go up more because some of that income would be taxed in a higher bracket.    If you itemized, in 2018 did the 2019 amount go up in proportion to your wages.  

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