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New Member
posted Dec 25, 2024 10:25:03 PM

Does anyone know what I am doing wrong where I don't get a return?

Well I have to pay in but not getting a return for all I put out

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2 Replies
Level 15
Dec 26, 2024 6:13:28 AM

A tax return is the Form 1040 you send to the IRS.  Do you mean you are not getting a refund?    When you get money back it is called a refund.

 

 

 

If you are not getting a refund then you are not having enough withheld from your paychecks.   A "big" refund from the amount you have withheld would only mean you gave the government an interest free loan all year, so the goal should be to have enough withheld to get only a small refund, but not owe anything.  If you find that that each year you owe a significant amount, then you should change how much you are having the employer withhold from your paychecks by giving them a new W-4.

 

 

https://turbotax.intuit.com/tax-tools/calculators/w4/ 

https://www.irs.gov/individuals/tax-withholding-estimator

https://www.irs.gov/pub/irs-pdf/fw4.pdf

 

Level 15
Dec 26, 2024 7:56:44 AM

No one can see your return.

 

 

We cannot see your screen, your return or your account.  Have you entered ALL of your 2024 information? That is unlikely ---since employers and financial institutions etc. have not yet issued 2024 tax documents yet.    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 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/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/L97JmhUbi_US_en_US?uid=ld9ijm41

 

Print out 2023  and 2024  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

 

 

 

 

 

https://ttlc.intuit.com/community/refunds/help/why-did-my-refund-go-down-compared-to-last-year-s/00/25993