Question

How come my W2 said I was getting more money back than I really did?

Forum|Forum|6 years ago
January 8, 2020
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TurboTax Free Edition Online

Employee

Your W-2 does not indicate anything about a tax refund. You enter the W-2 on your tax return. If the total of all tax payments is greater than the total of the tax liabilities then a tax refund will be issued for the overpayment.

X

xmasbaby0

Employee

You cannot look at box 2 for federal tax withheld and assume you will get it all back. Many people even owe after entering all of their information from a W-2. There are many factors involved in determining your tax liability. You get a refund if there is a difference between the amount withheld and your tax liability--which depends on many things--your filing status, dependents, eligibility for credits, etc. etc. etc.

**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.**