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If this is my first time filing taxes why don't I get my money?

Forum|Forum|3 years ago
February 2, 2023
3 replies
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How do I get my money?

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Best answer by VolvoGirl

Not everyone gets a refund. It mainly depends on how much income you have and how much tax withholding was taken out of your pay. The withholding is just an estimate to cover the tax on your income. If you don't have enough withheld then you end up owing on your tax return.

Your total income is added up. Then you get to subtract a Standard Deduction (everyone gets) giving you the Taxable Income. Then the Tax is calculated. Then the withholding and any credits you qualify for are subtracted from the Tax. Leaving you with a tax due or refund.

X

xmasbaby0

Employee

If this is your first time to file a tax return it is probably kind of confusing to you. Did you enter a W-2? Or more than one W-2? What is your filing status? Are you single? Can anyone claim you as a dependent? What "my money" do you think you are not getting?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

VolvoGirlAnswer

Employee

Not everyone gets a refund. It mainly depends on how much income you have and how much tax withholding was taken out of your pay. The withholding is just an estimate to cover the tax on your income. If you don't have enough withheld then you end up owing on your tax return.

Your total income is added up. Then you get to subtract a Standard Deduction (everyone gets) giving you the Taxable Income. Then the Tax is calculated. Then the withholding and any credits you qualify for are subtracted from the Tax. Leaving you with a tax due or refund.

AliciaP1

There are a lot of different situations going into a tax return, even for first-time filers. Your question isn't as specific as we usually need in order to help out, but you can see Filing Taxes for the First-Timer for more detailed information. If you have a more specific question you can come back to this thread to ask and we will do all we can to help you!

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