Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-27-2010, 07:47 PM
Junior Member
 
Join Date: Jan 2010
Posts: 3
Low Refund

I wanted to know why my refund was so low this year.

Please let me know if further information is needed for an answer.

2008
wages $12,101
federal income tax withheld $712
refund $712

2009
wages $18,093
federal income tax withheld $614
refund $160

Any help would be appreciated.

Thanks.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 01-27-2010, 10:14 PM
Junior Member
 
Join Date: Jan 2010
Posts: 5
Did your number of exemptions change? Did you have income deductions or tax credits in 2008 that you don't have this year?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 01-28-2010, 01:30 PM
Junior Member
 
Join Date: Jan 2010
Posts: 3
I knew I forgot to mention stuff...no nothing drastic has changed.

Exemptions are the same, it's just 1 for me. Everything is the same as last year except I paid about $40 less in student loan interest this year. I'm 24 and I don't qualify for the Earned Income Credit.

Any ideas why it's so low?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #4 (permalink)  
Old 01-28-2010, 03:05 PM
Junior Member
 
Join Date: Jan 2010
Posts: 5
It looks like something changed on your W4 (tax withholding). Because in 2008, you made $6,000 less but paid in more taxes than you did in 2009. You need to check with your employer and make sure your W4 is how you want it to be.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #5 (permalink)  
Old 01-28-2010, 07:28 PM
Junior Member
 
Join Date: Jan 2010
Posts: 3
I have checked and it's the way I want it to be!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.