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Home Money and Personal Finance

Federal tax refund much smaller for everyone I know this year, including myself. What’s going on? : personalfinance

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I did work three jobs this year but my total income was still below 22k for the year. After I put in two of my three w2s it was saying my federal refund would be a little over $1,000. Then I entered my last w2 and it dropped down to $200. My bf worked two jobs, the first one only for the month of January and then he worked the other one from February on. He made less than $28k for the year and after entering the first w2 it said his federal return would be $700 then we entered the second and it dropped below $200. I made roughly the same amount of money last year and got over $1000 back and the same happened for my bf. My mom has also experienced the same issue and she only worked one job all year. Did something change this year or last year? Why are the federal returns suddenly 1/5th what they used to be for everyone I know?



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Tags: FederalIncludingpersonalfinanceRefundsmallerTaxWhatsYear

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