I’m looking at a tax return calculator and trying to understand why my estimated refund is only about $600. I started the year working at Kroger, earning about $13,200 there, and at my current job, I’ve made $28,900. I claim zero allowances on my W-4, and I’m a single adult, fresh out of college. I donated $300 this year. I don’t own any property, but I thought my refund would be higher. Any help to better understand this would be appreciated.
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What’s up with my tax return?
Do you complete it on the ground? It won’t be as low if you use a desk, kitchen counter, or anything else with more height.
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The majority of people won’t receive much money back if they received any stimulus money from COVID, as they are already beginning to collect taxes on their behalf.
Hello, the lower your refund, the less tax you overpaid. It’s a wonderful thing because you’ll have more money throughout the year.
Tax payments less tax liabilities equals a refund. Your tax due is determined by your income. You deduct taxes from your paychecks in order to pay your taxes. Over-withholding results in reduced cash flow throughout the year; the government reimburses you for the money.
For us to run your W2 boxes through our program and provide you with a response, you would need to provide them.
A refund is the difference between your tax payments and your tax liability. Your tax liability depends on how much you earn. Tax payments are the amounts withheld from your paychecks. If too much is withheld, you have less cash throughout the year, and the government gives it back to you as a refund. This is not ideal because it means you had less money available during the year.