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kparchie
New Member

Why is my federal tax refund more than I paid in

 
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1 Best answer

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Why is my federal tax refund more than I paid in

You may have received some refundable credits which would raise your refund.  If you had Itemized Deductions, that could also raise your refund. 

 

Some Examples of refundable credits are:

 

  • American opportunity tax credit. Available to filers who paid qualified higher education expenses.
  • Earned income tax credit. Paid to eligible moderate- and low-income working taxpayers.
  • Child tax credit. Available to families with qualifying children under age 17. 
  • Premium tax credit.

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2 Replies

Why is my federal tax refund more than I paid in

You may have received some refundable credits which would raise your refund.  If you had Itemized Deductions, that could also raise your refund. 

 

Some Examples of refundable credits are:

 

  • American opportunity tax credit. Available to filers who paid qualified higher education expenses.
  • Earned income tax credit. Paid to eligible moderate- and low-income working taxpayers.
  • Child tax credit. Available to families with qualifying children under age 17. 
  • Premium tax credit.
RayW7
Expert Alumni

Why is my federal tax refund more than I paid in

It is possible that you received one or more refundable credits-

 

Refundable tax credits, are treated as payments of tax you made during the year. When the total of these credits is greater than the tax you owe, the IRS sends you a tax refund for the difference.

Your tax return form will list all refundable tax credits, such as the Earned Income Credit, in the same section you report your tax payments.

 

Some common types of refundable tax credits are:

Earned Income Tax Credit

Child Care Credit

American Opportunity Tax Credit

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