| The income reported on the W-2's amounts would be combined when you are filing your individual tax return. Thus, your federal income tax liability would be based on the combined taxable income and hopefully you would still be getting the same amount of refund.
But, clearly, the tax refund would be based on the amount of federal income tax withheld from both the W-2's and these amounts would be offset against the federal income tax liability based from your combined W-2 income. | 
