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kim888
New Member

My refund is 2000.00 less than last year. We made more money. But that seems excessive. Any one know what to do?

 
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1 Reply
JamesG1
Expert Alumni

My refund is 2000.00 less than last year. We made more money. But that seems excessive. Any one know what to do?

Are you able to compare the 2018 tax return with the 2019 tax return line-by-line?  Something may jump out at you as you review the differences from one year to the next.

 

Here are some things that could have led to a smaller refund or you owing a tax bill.

  • Tax withholding was less than the previous year after a change of jobs or a change of payroll companies at the same job.
  • Income increase computes your tax from a higher tax bracket.
  • Income increase or decrease affects a tax credit or deduction.
  • A change in number of dependents.
  • The age or income of a dependent affects a tax credit or deduction.
  • Not qualifying for a tax credit.
  • Change in state tax law that affects your tax refund / balance owed.

Have you input all of your tax documents?  You also may want to review this.

 

Has everything been entered correctly?  You can view the tax return to see what has been entered.

  • Down the left side of the screen, click on Tax Tools.
  • Click on Tools.
  • Under Other helpful links, click on View Tax Summary.
  • Down the left side of the screen, click on Preview My 1040 to see the actual tax return that you prepared.
  • Down the left side of the screen, click Back to return.
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