It depends. There are a lot of factors that could affect your tax refund from year to year. Sometimes, taxpayers have a tax liability due. This occurs when there was not enough taxes paid throughout the year.
Some of the most common reasons for your tax situation (and corresponding refund or tax due) to change are:
- Less income tax was taken out of your earnings
- You were in a higher tax bracket due to earning more money
- Your child turned 17 and is no longer eligible for the Child Tax Credit and is 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 change in filing status
- You got unemployment and not enough taxes were taken out
To understand the exact differences, you would have to do a line-by-line comparison of your return.
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