I earned 24,000 last year all hourly work. But my taxable income is only 12,000 i have no deductions, no tips all hourly. I don’t understand.

[xmasbaby0]

@dbrookshaw88 That partial screenshot you provided seems to show that you DID receive the $1400.   For many people --receiving $1400 is memorable.   Do you truly not know if you received a check for $1400 last year?   Have you looked at your bank account?   Was there a deposit for $1400 sometime in 2021?    If you received that $1400, and then answered incorrectly on your tax return that you did not receive it----again---that is why your refund was reduced.   The reason your refund was so small after that $1400 you were not entitled to was removed is because you only had enough tax withheld from your paychecks during the year to cover your tax liability with a small refund at tax time.

If you had prepared your tax return without the confusion over the recovery rebate credit, your refund would only have been that $84.   Remember if you chose to have your TurboTax fees deducted from your federal refund you had fees plus the third party bank fees.

Did you choose to have TT fees deducted from your Federal refund?  (Remember that if you did that, you also agreed to an extra refund processing fee of $39.99 or $44.99 in CA)

How can I see my TurboTax  fees?   

https://ttlc.intuit.com/questions/2565973-how-do-i-review-my-fees-in-turbotax-online

What is Refund Processing Service?

[xmasbaby0]

@dbrookshaw88 One other thing ----if that is what you are seeing for your own IRS online account---it looks like the IRS does not show that you received the $600 stimulus---the 2nd EIP payment.    You could amend your 2020 tax return and use the recovery rebate credit for 2020 to get that $600.  But you can only get it on a 2020 return.

Select your tax year for amending instructions:

• 2020

[AmyC]

The IRS says you got the $1400 stimulus. On your tax return, line 30, you said that you did not get the refund. The IRS will not give you the same money a second time. Since the IRS says you got it and you say that you did not, you need to trace  the $1400 EIP. To request a payment trace, call 800-919-9835 or fill out IRS Form 3911, Taxpayer Statement Regarding Refund.

If the IRS subtracts $1400 from your refund of $1328, you would owe taxes, not get a refund- so I don't understand what you are saying. When you start a job, you fill out w4 paperwork so the company knows how much tax to withhold. It is possible for them to take out too much or too little which will affect if you get a refund or owe. To better understand refund vs liability, see another of my answers here.

@xmasbaby0 answer just popped with the rest of what you need to know.

[DanP0428]

I think the issue is the 1200 stimulus

[AmyC]

The $1200 and $600 from 2020 - if you were paid the $1200 and claimed it on last year's tax return, then the IRS may have taken the $1200 because you got it twice. However, you did not get the $600 so you still deserve that money and it should have been on your tax return last year.

You can amend last year's return and add the $600 that you did not get. Please:

• Save a copy of the original return before doing an amended return.
• See how to file an amended return.
• Follow your amend at track an amended return 
• Here is a great FAQ to show the math for amended returns. 
• Be sure to mail with tracking.
• Expect it to take a very long time - up to a year.

@DanP0428

[dbrookshaw88]

The issue is my refund dropped from 1300 to 84 after i added a second W2 it has nothing to do with the credit. Also again why is only half of my income taxable? 

[dbrookshaw88]

Again if i remove my second w2 this is what turbo tax says my refund would be. So again sorry explain why to me why when i added my second job this entire amount drops to $84.

It has nothing to do with the tax credit

[xmasbaby0]

@dbrookshaw88 It is normal for your refund to go down when you add more W-2's.   More income = more tax

You started off with your first W-2 and your refund look high?  Then you added another W-2 and it stopped looking so good? That is normal.  When you added more income, your tax liability increased, so you saw your refund decrease.  The program began by giving you your standard deduction—- which lowered your taxable income. So you are not being taxed on as much of the income on that first W-2.  Then you added taxable income--so the refund went down. Your refund (or tax due) is based on the total of your income, not “per W-2.”  Wait until you have entered ALL of your income and deduction information.  You can't really tell anything until it is all entered.  That “refund monitor” does not mean anything until everything has been entered.

https://ttlc.intuit.com/questions/2273878-why-did-my-refund-drop-when-i-entered-another-w-2

[dbrookshaw88]

Its like people aren’t reading or maybe im not being clear. Idk. The second w2 was for 8k and according to the accountant i only paid 247 in taxes out if 8k because that was the tax bracket i fit into. 

so in total i made 24k between both jobs and was only taxed on 12k and after adding the second w2 my taxes dropped significantly. And they now say i owe 1200 but again i paid my taxes that were required while earning the 8k.

so again my question is how do i owe now? Did i not pay enough taxes? Also why is only half my income being considered “taxable” yet i am told i owe. 

none of this makes sense. And it has nothing to do with the tax credit. 

[DianeW777]

It depends. In your example you made $24,000 in total which, if there is nothing else on the tax return, will be reduced by the standard deduction.

Using single, under 65, as the filing status the standard deduction is $12,550.  The result is $11,450 as taxable income. If we go to the 2021 tax tables for this income amount the tax is $1,178 under the single column.  You are basically at the 10% bracket so if we used even a few points lower on your $8k W-2 the tax would still be much higher than $247.

The Form W-4 is used so that your employer knows what tax to withhold, then it is also dependent on the number of pay periods and the gross pay per pay period.  Employer withholding information can be reviewed in IRS Publication 15-T for 2022.

Double check your W-2s and the federal withholding for each of them. Then monitor your wages for 2022 with each pay check.  You are allowed to submit a W-4 as many times as necessary to adjust your federal and/or state withholding.  If your income will be similar in 2022, then you may want to add an additional amount on your W-4 (line 4(c) ) for job number 2.  It's a good idea whenever you have two jobs.

[dbrookshaw88]

Thank you @DianeW777 just to confirm it appears that i didn't pay enough taxes at the job where i only paid $247 fed withholding out of 8k which is what i thought but when i talked to that accountant, but they are saying Thats where i fit on the tax bracket table at the time. However i did change jobs and start making more money. 

with that being said the exact number are 8556.57 and the fed tax was 247.57 does anyone know the correct amount I should have paid in tax? Or how would i figure out this number.

also even if my new job increased my tax bracket would that affect everything? Basically to put it simply, if i was getting taxed less at another job but then make more and a new job and get taxed more and i required to pay more taxes on the year cause of the new job?

[KrisD15]

You may need to update your W-4 in order to have sufficient tax withheld.

That is a form you should supply to your employer. The employer should also have had you fill out out. 

You should fill out out for each job. 

Below is a link where you can calculate what you might want to enter on your W-4. 

IRS LINK for W-4