turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Why is my refund significantly less than last year if I make more now?

Did I enter an amount wrong? I am single and filed for standard with no dependents I got a new better job
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
AmyC
Expert Alumni

Why is my refund significantly less than last year if I make more now?

The old job was taking out taxes for the old job tax rate. The new job has a higher tax rate, you just did not have enough withheld from the old job.

 

You were making $x and paying y% in taxes. Now, you are making more money and paying z% in taxes.. If you have a second job, those will never withhold enough and you have to have more taken at your main job. On the W4, there is a box where you can withhold additional money, if needed.

 

Congratulations on the new job! The taxes should be better when it is a full year. You may want to check the W4 calculator in the program to be sure. It is in the Other Tax Situations tab.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies