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New Member
posted Feb 20, 2024 5:31:14 PM

Can you tell me why did my refund went down. Nothing changed from last year except i made about $3400.00 less

0 5 392
5 Replies
Level 15
Feb 20, 2024 5:37:40 PM

We cannot see your tax return.   We do not know what income you entered or if you have dependents.   The child-related credits like earned income credit and additional child tax credit, for example, are affected by the amount you earned by working.  So you may have less for those credits---you say you earned less.

 

Or----do you have a child who turned 17?  You lose the child tax credit when they turn 17.

 

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. 

Expert Alumni
Feb 20, 2024 5:42:30 PM

Many things can affect your refund like having self-employment, getting a raise, a change in your filing status, having a dependent turn 17, and many others.   As xmasbaby0 recommended, you should go back and check your entries and go through the review.  

 

You can access your personalized refund information in TurboTax:

  1. Open or continue your return.
  2. Select Federal in the left menu.
  3. Choose Federal Review.
  4. Under the Explain Why section of the Federal Review screen, select Why am I getting a refund of $? to see more details on your refund and how it was calculated.

@bulletb1966 


 

New Member
Feb 20, 2024 6:53:04 PM

I have one job, i am single and claim zero. I even have $10.00 extra taken out of each bi-weekly paycheck, I made $40,340 last year about $3400 less than 2022 and i am getting back almost $2000.00 less. all numbers were put in correctly. I did nothing different on this return from last years but i can not figure out the great difference in the amount of returns

New Member
Feb 20, 2024 6:54:36 PM

I have one job, i am single and claim zero. I even have $10.00 extra taken out of each bi-weekly paycheck, I made $40,340 last year about $3400 less than 2022 and i am getting back almost $2000.00 less. all numbers were put in correctly. I did nothing different on this return from last years but i can not figure out the great difference in the amount of returns

Expert Alumni
Feb 21, 2024 6:21:47 AM

Yes, based on what you are saying the only explanation is that they took out less federal income tax. 

 

If your income varies from week to week, the amount they take out varies as well. If you had less overtime, or some weeks where you worked less than normal, your federal tax withheld will be less. 

 

The only tax law changes that significantly impact your refund in 2023 are related to dependent children.