Not everyone gets a large refund (especially if you have no dependents) , and some folks even end up owing taxes. It may be that the amount you had withheld just about equals the tax due.
There are many reasons why your refund could be less than last year or, less than what you expected, such as:
- The number of dependents you claimed.
- You have a dependent who turned 17 during the Tax year.
- Your Income Increased.
- How much Tax you had withheld.
- You changed your Filing Status.
- You didn't qualify for the Earned Income credit. When you qualify, the credit amount will go up as you earn more income, but once you earn too much, it will go down eventually to zero. TurboTax will figure out exactly how much you’ll receive.
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