Any owe more (or are getting less) on their income taxes than last year?

[EyezsoLow 10+ year member]

So I'm doing my taxes right now and according to the website I actually owe money to the feds, whereas in years past I would actually get a few hundred back. Both years I've claimed zero. Has this happened to anyone else?

Click to read more...

 

[Slo_Ride 5,000+ posts]

Yes but its because of my own doing.

 

[Rmsanger 10+ year member]

yes, I'm making more money and in a higher tax bracket.

 

[DBfan187 5,000+ posts]

I'm getting $565 back from federal and paying $2 to state.

 

[Plottin4success 10+ year member]

yes, I'm making more money and in a higher tax bracket.

This.

Also, I didnt pay as much interest on my student loan as I did last year. I got back $2200 last year, and only $1400 this year.

 

[Slo_Ride 5,000+ posts]

crazy thing is I'm getting $3000+ from fed, but I have to pay GA $84, wtf? It is what it is.

 

[duece212 5,000+ posts]

I'm getting less this year but I refinanced my house to a lower rate mid year so had less of a deduct of mortgage interest. I try to keep my return as low as possible but still got 2600 back this year. That should lower next year with the full year of less mortgage interest. I bought a new car last year too so the tax on that was a deduct I won't have next year.

 

[eharri3 10+ year member]

Yes, when I got to the end on turbotax it mentioned something about how there is some sort of 'credit' everyone got, but not really... somehow on average less was withheld from most peoples' paychecks this year so they wouldn't make as big of an interest free loan to the government. Seemed to me like the government is poor and wanted to cut the total amount it pays out in refunds at the end of the year. No significant upward bump in income, still in the mid 70s.

The refund is normally about 1000 bucks, this yr it will be 500.

 

[k_schutte 10+ year member]

Getting close to $6K back this year... IIRC I got $5400 last year

 

[traksta15 10+ year member]

got around 2k last year, ill probably pay in this year (made more)

 

[Vipervenom18 10+ year member]

I got 4k back last year. Not sure of what this year as a lot changed in my life.

 

[AlterEgo99 5,000+ posts]

If you are getting money back (aka "Refund") you are simply loaning your money to the gov't interest free...I'd rather come up even ($0) or owing some back to the feds...you can be sure that if you took a year to pay the feds their cash they wouldn't treat that as an interest free loan...you'd be looking at interest AND penalties.

 

[Slo_Ride 5,000+ posts]

I claim exempt, I pay no taxes. I have dependants there for I get refund.