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mrinalini-ranjan
New Member

Hi - i just filed my return but it is much less than I expected..barely $1000, and I make 115,000 a year and only have my w2 income

 
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Anita01
New Member

Hi - i just filed my return but it is much less than I expected..barely $1000, and I make 115,000 a year and only have my w2 income

You have a pretty high income so you'll owe a pretty high tax on it.  You can only get a refund if you have too much withheld during the year.  It looks like you did  a pretty good job of having the correct amount withheld.  Having more withheld would just mean making an interest free loan to the government instead of getting to use your money yourself during the year.

If you want a bigger refund next year, you'll have to have more taken out during the year.  You can talk to your payroll people and ask for a W-4 to reduce the exemptions claimed from say, 1 to zero, or you can just ask to have a specific additional amount withheld per per paycheck.

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Anita01
New Member

Hi - i just filed my return but it is much less than I expected..barely $1000, and I make 115,000 a year and only have my w2 income

You have a pretty high income so you'll owe a pretty high tax on it.  You can only get a refund if you have too much withheld during the year.  It looks like you did  a pretty good job of having the correct amount withheld.  Having more withheld would just mean making an interest free loan to the government instead of getting to use your money yourself during the year.

If you want a bigger refund next year, you'll have to have more taken out during the year.  You can talk to your payroll people and ask for a W-4 to reduce the exemptions claimed from say, 1 to zero, or you can just ask to have a specific additional amount withheld per per paycheck.

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