Question

Why is my federal not even $500 why is all my money being taken

Forum|Forum|3 years ago
January 31, 2023
1 reply
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TurboTax Live Deluxe Online

Your tax refund is not at all proportional to your income. It depends on your income, your deductions and other tax credits, your tax liability and the amount of tax withheld.

The tax withholding tables are designed so that you pay enough tax as you earn so that your refund or your tax due is as close to 0 as possible. In fact, if you have a large refund at tax time, this means that too much has been withheld from your paychecks during the year.

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