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Old 01-22-2010, 04:29 PM
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Join Date: Jan 2010
Posts: 1
My refund is almost a thousand less!

Last year for the filing year of 2008, I received a refund of more than $2300. This year my refund is estimating at a little over $1300. Why is there such a huge difference, when my income only went up slightly? I file single, no exemptions, no dependents, and I live in Washington state.

Here is my info, Exemptions: 1:

Filing year 2008:
1. Wages Salaries & Tips: 25,864
2. Taxable Interest: 19
3. AGI: 25,883
4. Standard Deduction: 5450
5. Mult 3500 by total exemptions: 3500
6. Total taxable income: 16,933
7. Tax: 2138
8. Education credits: 1284
9. Retirement: 72
10. Total Credits: 1356
11. Total tax: 782
12. Fed Income tax w/h: 3099
13. Overpaid: 2317


Filing Year 2009:

I'm not sure how this all works but I'll give you the information I have, Fed Exemptions: Zero:

1. Gross Pay: 28964
2. Taxable Interest: 18
3. Fed Income Tax W/H: 3012
4. SS Tax w/h: 1762
5. Medicare tax: 412
6. 401K: 343
7. Other Cafe 125: 553
8. Reported W-2 Wages: 28068
9. Box 12a) code D: 343
10. Box 13) Retirement plan: has an x
11. Tuition paid in 2009: 1411
12. 1098E: Student loan interest received: 332


Does this have anything to do with #5 in the 2008 filing where it said to multipy my exemptions by 3500? I thought I would have more taxes taken out during the year if I had zero exemptions and then would get a bigger refund?



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