641436
You'll need to sign in or create an account to connect with an expert.
"Nothing changed?"
No one on Answer Xchange can see your tax return. Some people are saying “Nothing has changed from last year.” That is not true. There are major tax law changes that have begun with this tax year. Personal exemptions of over $4000 per person were removed.
One thing that may be affecting your refund for 2018 is that employers began withholding less tax when the new tax law passed. Your paychecks were more, but that means a smaller refund now.
There are are lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc. You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17? If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC) Are you 65 or older ? If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions. Or do you have a healthcare penalty? We used to be able to suggest comparing two years of tax returns side by side to find the differences. But with the drastic change in the 2017 and 2018 forms, that is tricky this year. Another thing to compare is the amount withheld for federal tax in box 2 of your 2018 W-2 with the amount withheld for 2017.
https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return
And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.
https://ttlc.intuit.com/questions/1901008-why-did-my-refund-go-down-compared-to-last-year-s
Ok so what is the next step I take to like double check if my final amount is right? Cuz I sent from like $255 last year to it saying I’m only getting $19 back. Im single, no kids, no special donations or anything to consider except I was out of work for about two months when the retail stores first started locking down. I have the smallest amount possibly taken out for taxes, I do have a second job but it’s literally like another hours at just above minimum wage. It just seems off to me, but I can’t find a way to get help onlinr. I can’t really call in I’m at work.
Well, Unemployment Comp is taxable, but you may not have had taxes withheld from it. It also doesn't qualify for EIC. Look at your 2019 and 2020 returns side by side. Something may stand out.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Steerpike58
Level 2
joupt588
New Member
kaylabell100-100
New Member
jarvismckay24
New Member
ttoni-bates
New Member