Why am I receiving less refund this year?

[richardktnguyen]

My federal was approximately $950 for 2015. It is only $464 for 2016.

[WillK · Accepted solution]

There are several factors that go in to determining the taxes an individual owes. 

Your income could have increased which might 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. 

If your income decreased that sometimes can reduce your refund due to you not having enough earned income to receive the deductions or credits you did before. 

To see what had changed between last year and this year, please print off your 2015 and 2016 return and compare them. This will help you determine what has changed. 

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