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Old 02-15-2011, 03:30 PM
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Join Date: Feb 2011
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Unhappy Why is my 2010 tax return less this year?

I really appreciate the help...

i am 21 years old filing single and with no dependents and i am also independent

in 2009 return i made a straight forward tax return for $11000.00 working half a year and was returned 850 dollars.

this year i made almost 24000.00 with no changes and i only was returned 60 dollars?

any advice or help?



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Old 02-16-2011, 12:57 AM
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Join Date: Oct 2010
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‘this year i made almost 24000.00 with no changes and i only was returned 60 dollars?”----->There can be some reasons; possibly, your marginal rate on the other income , $13,000;$24,000-$11,000, is higher than the 15% tax that they withheld. So, you did pay in enough in withholdings( as your federal tax liability increases in 2010) from your paychecks ( by decreasing your withholding allowances on your W4) and therefore minimized the amount of the interest free loan that you gave to the IRS.



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