Question

I made more annually this year then last year but am receiving a smaller refund then last year, how come?

Forum|Forum|6 years ago
February 5, 2020
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Employee

Taxes can be complicated so there is no simple answer. If income increases and withholding doesn't increase enough to offset the additional taxes that must be paid for the additional income, the tax refund will go down. There are also some credits that vary with income and some of them such as EIC peak at a certain income level and then go down. That would decrease your refund.

Look at your 2018 and 2019 tax returns side by side, line by line, to see what changed.