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I have a few changes on my taxes from last year to this year nothing really big, my income was a little lower this year. Last year i got 8,000 this year it is 3,000.why

 
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MinhT1
Employee Tax Expert

I have a few changes on my taxes from last year to this year nothing really big, my income was a little lower this year. Last year i got 8,000 this year it is 3,000.why

Your tax refund is not at all proportional to your income. It depends on your income, your deductions and other tax credits, your tax liability and the amount of tax withheld.

 

Assuming that your form W-4 was filled out correctly, the tax withholding tables are designed so that you pay enough tax as you earn so that your refund or your tax due is as close to 0 as possible. In fact, if you have a large refund at tax time, this means that too much has been withheld from your paychecks during the year.

 

Additionally, many events may reduce your refund. Please read this TurboTax Help article.

 

You can also review your entries in TurboTax to make sure that they are correct.

 

 

Edited 01/26/2025 | 6:43 AM PST

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