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Last year I made half the amount and received a refund of 752. I made double the amount this year but only a refund of 290.00. I thought I would get more of a refund.

 
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Accepted Solutions
WillK
Intuit Alumni

Last year I made half the amount and received a refund of 752. I made double the amount this year but only a refund of 290.00. I thought I would get more of a refund.

Unfortunately it doesn't always work out that way. When you increase your income, you also increase the amount of taxes you are required to pay in as well. More income, more taxes. 

When your income increased it could  have:

  • Put you in a higher tax bracket, 
  • It could have reduced or eliminated some deductions or credits

  • The tax laws changing year to year will determine the amount of taxes that need to be paid as well. 

The best thing to do is to print out your 2015 and 2016 tax return and compare them side by side to see what else has changed besides your income. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
WillK
Intuit Alumni

Last year I made half the amount and received a refund of 752. I made double the amount this year but only a refund of 290.00. I thought I would get more of a refund.

Unfortunately it doesn't always work out that way. When you increase your income, you also increase the amount of taxes you are required to pay in as well. More income, more taxes. 

When your income increased it could  have:

  • Put you in a higher tax bracket, 
  • It could have reduced or eliminated some deductions or credits

  • The tax laws changing year to year will determine the amount of taxes that need to be paid as well. 

The best thing to do is to print out your 2015 and 2016 tax return and compare them side by side to see what else has changed besides your income. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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