Why Was My Tax Refund Lower This Year Pandemic tax credits have expired meaning that you re likely to see a smaller refund or a bigger tax bill this year Here s what to know
Your tax refund might increase this year if you earned more income raised your withholding had a change in filing status or became eligible for credits that you couldn t take advantage of last filing season If you re expecting a tax refund it could be smaller than last year And with inflation still high that money won t go as far as it did a year ago The more than 101
Why Was My Tax Refund Lower This Year
Why Was My Tax Refund Lower This Year
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9 Smart Ways To Spend Your Tax Refund
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Taxes 2019 Why Is My Refund Smaller This Year
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This tax filing season may hold some surprises for your wallet Your refund or tax bill may be very different than it was last year Here s why The total amount refunded to taxpayers by the Internal Revenue Service to date this year is approximately 172 billion 16 4 billion less than in in 2022 the latest data from the agency shows
There are many events that may reduce your refund including Starting an additional job especially self employment Getting a significant raise but your W 4 If you re expecting a tax refund it may be smaller than last year s payment according to the IRS Here s why
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Why Was My Tax Refund Lower This Year
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Why is my refund different than the amount on the tax return I filed updated December 22 2023 All or part of your refund may be offset to pay off past In News According to IRS data the average tax refund was only 1 395 as of Feb 2 At that same point last year tax refunds averaged 1 963 That s an almost 29 568 difference
The Internal Revenue Service is alerting taxpayers about a number of changes hitting in the 2023 tax filing year Among the most significant Your tax refund Discover why your tax refund may be smaller this year Know what to expect from your refund and gain valuable tips to maximize your income tax refund
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Pandemic tax credits have expired meaning that you re likely to see a smaller refund or a bigger tax bill this year Here s what to know
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Your tax refund might increase this year if you earned more income raised your withholding had a change in filing status or became eligible for credits that you couldn t take advantage of last filing season
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Why Was My Tax Refund Lower This Year
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Why Was My Tax Refund Lower This Year - The total amount refunded to taxpayers by the Internal Revenue Service to date this year is approximately 172 billion 16 4 billion less than in in 2022 the latest data from the agency shows
