Does it make sense that I owe $600 in federal taxes this year but got a refund of $800 last year? I did make more money in 2021 for my W2 but my tax bracket's the same.

warehime69 · ‎January 23, 2022

I dont have anything thats really different between my 2020 and 2021 filings besides making more money at my W2.

xmasbaby0 · ‎January 23, 2022

More income = more tax

Print out your 2020 and 2021 returns and compare them side by side so you can see what is different for this year.

https://ttlc.intuit.com/community/refunds/help/why-did-my-refund-go-down-compared-to-last-year-s/00/...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

VolvoGirl · ‎January 23, 2022

Usually more income = more tax = less refund. Your withholding didn't increase enough to cover the tax due. Or some credits you got are reduced because you made more income.

HelenC12 · ‎January 23, 2022

If your federal refund is lower than expected, it's because you didn't have enough federal income taxes withheld from your paychecks. Do a line by line review of your 2021 Form 1040 versus your 2020 Form 1040 to identify the difference or differences. See How do I preview my TurboTax Online return before filing?. Also, see the information below.

Tip: If your refund is wildly off, you may have mistyped a dollar amount somewhere. An extra digit here, a missing number there, even a misplaced decimal point can have an eye-popping (but easily correctable) effect on your refund.

If you didn't update your form W-4 for 2021, it’s highly possible this is why you owe. If you'd like to get a bigger refund, complete a form W-4 for 2022 and have an additional withheld. You'll get less money in your paycheck but you'll get a bigger refund next year.

We've got some other possible reasons for a year-over-year refund decrease:

You had more than one W-2. See Why did my refund drop when I entered a second W-2?
Changes in your income or tax rate
State and local income tax deduction changes
Losing certain credits or deductions

Source: TurboTax FAQ

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Mike9241 · ‎January 23, 2022

maybe maybe not. wore income more taxes but with a bigger w-2 more withholding. we can't see your returns so we are guessing

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Does it make sense that I owe $600 in federal taxes this year but got a refund of $800 last year? I did make more money in 2021 for my W2 but my tax bracket's the same.