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dchristina16
New Member

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

I'm confused. Looking for a answer!
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jerry2000
Alumni

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

A W-2 is a form that you get from an employer that says how much you earned. If your W-2 was lower than the one that you got last year, then you need to ask your employer why that is. Only your employer would know. No one else would have any way of knowing.

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6 Replies
jerry2000
Alumni

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

A W-2 is a form that you get from an employer that says how much you earned. If your W-2 was lower than the one that you got last year, then you need to ask your employer why that is. Only your employer would know. No one else would have any way of knowing.
VolvoGirl
Level 15

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

Or do you mean your tax return refund is less this year?  

If your actual W2 is less, did you contribute to something like a 401k plan?  Any box on your W2 for the difference?  You usually don't make exactly the same income each year.
dchristina16
New Member

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

Yes I meant my tax return is less this year than last year. I made less last year & this year I made alil more but my refund is smaller than last year. I'm gonna ask the company I work for why it's less this year than last year cause I don't understand why it would be
jerry2000
Alumni

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

We have a progressive tax system. That means that the more you earn, the higher tax rate you pay on each additional dollar of income. If you got paid more last year than the year before but you did not increase your withholding, then your refund would be less.
VolvoGirl
Level 15

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

Yes that's common.  More income = more tax = less refund.  And with more income you might not be getting as many credits like the EIC as the year before.  Compare this return with your 2015 return line by line and see what changed.
dchristina16
New Member

Help please if you can. So I got my w2 but it's lesser than it was last year by $505. I don't understand why it's so much less this year. If you maybe know please help

Thank you both for your help! I speaked with my employer & got it figured out.
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