I am confused why my refund is so low. I even held out extra out of each paycheck just so I could get more back and yet my refund is less than a 1,000

[xmasbaby0]

We cannot see your screen, your return or your account.  Have you entered ALL of your 2022 information?  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.

There is no recovery rebate credit (stimulus $) for 2022.  The childcare credit is not refundable. The child tax credit is different.  And for some people, earned income is different because there is no “lookback” to an earlier year.  Those are some of the reasons your refund may be less.

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…..the child tax credit is very different for 2022    For 2021 you could get $3600 for a child under 6 or $3000 for a child between 6 and 17 even if you had no income/did not work.   That is NOT the way it will work for your 2022 tax return.  The “old” rules are back.   The maximum amount of the child tax credit is now $2000; the refundable “additional child tax credit” amount is $1500.   In order to get that credit, you have to have income from working.  The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1500.  If your child is older than 16 at the end of 2022, you do not get the CTC.  But you may still get the non-refundable $500 credit for other dependents instead.

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/...

Print out 2021  and 2022  and compare them side by side to see what is different. 

[mikgj41]

I directly uploaded w2 from my employer site everything is correct.    I had 50 dollars taken out of each check for federal and 25 for state out of each check starting last may.    and yet im still getting so little in return

[ee-ea]

@mikgj41     

The best way to find out what happened is to make a line by line comparison of this return and the prior one(s).

[xmasbaby0]

@mikgj41 We do not know how much you earned----no idea what is in box 1 of your W-2 and no idea if you have dependents, your filing status, etc.   So we cannot guess what your tax liability is.

Use this link regarding 2022 tax rates to help you understand

https://ttlc.intuit.com/turbotax-support/en-us/help-article/income-taxes/federal-tax-rates-2021/L5Iz...

[xmasbaby0]

@mikgj41 And....the other thing to consider is that instead of getting a big refund now, you had enough withheld so that you do not owe the IRS, and did not give the government a great big interest free loan all year.