I Didn't Get a Tax Refund.. But I've Aways Gotten Back a Refund.. Why??

[koolx]

Last year when I filed for taxes I got back a $800 refund. Other years before I always got back a refund. But this year I have to pay taxes which makes no sense. Why is this happening? Any way to check if my filing was correct?

[Anonymous]

Whatever happened in prior years has no bearing in this year.  

The most common reason for owing for 2020 is receipt of unemployment benefits - particularly the extra pandemic assistance - without having taxes withheld (or only having the 10% minimum withheld)  Did this apply to you? 

The best thing to do is print out last year's return and this year's and compare the differences.  This will help you spot the "why", or potentially any error.  

[LenaH]

It depends. There are a lot of factors that could effect your tax refund or amount due from year to year. 

Some of these reasons are:

• Less income tax was taken out of your earnings
• You were in a higher tax bracket due to earning more money
• You child turned 17 and no longer eligible for the Child Tax Credit and are now receiving the Credit for Other Dependents
• You no longer qualified for the Earned Income Credit
• You paid off your student loan and cannot deduct any student loan interest
• You are no longer eligible for education credits
• You took on an additional job
• You sold investments
• You had a distribution from a 401k that was not related to Covid-19
• You had a change in filing status
• You got unemployment and not enough taxes were taken out

To really understand the exact differences, you would have to do a line by line comparison of your returns. 

[koolx]

I was never on unemployment benefits. I always worked throughout 2020.

[koolx]

None of those apply to me. I was never unemployed.

[koolx]

How do I print out this year's return? I was never given that option when i filed online.

[AlanT222]

Here is how you print your return.

1. If you're not already in your return, sign in at TurboTax.com and open or continue your return.
2. Select Tax Tools and then Print Center from the left menu (on mobile devices, tap in the upper left corner to expand the menu).
3. Select the first option, Print, save, or preview this year's return and follow any additional instructions.
   • If you're using a free version with no add-on fees, you'll be asked to register first.
4. Once your PDF opens in Adobe Acrobat Reader, select the printer icon near the top.
5. Make any adjustments in the Print window and then select Print at the bottom.

[fanfare]

IRS has changed the withholding rules so it is less likely for you to get a big refund.

If you still want a big refund you have to submit a new W-4 at work.

[koolx]

Hi.. so after I submit for a new w4 how do I go about the process of running it through turbotax?