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Just filed my income taxes this year using 1040EZ only. Saw an increase of about $300 compared to last year on federal taxes. When you filed this year did you see an increase in refund (or a decrease in what you owed) or did you see a decreased refund (or an increase in what you owed?
We saw a $2,000 increase in our refund this year. Due in part to a new child, which was a $600 credit, but nothing else changed. In fact, our mortgage interest and property taxes went down and our incomes went up. So, still scratching our heads on why, but we'll take it.
Unless your tax returns were exactly the same between years, you really can't compare the results.
Unless you move into a new tax bracket, buy a house, have a kid, etc., then the numbers should be relatively static. Since he filed a 1040EZ, it's safe to say his numbers didn't change much.
We saw a $2,000 increase in our refund this year. Due in part to a new child, which was a $600 credit, but nothing else changed. In fact, our mortgage interest and property taxes went down and our incomes went up. So, still scratching our heads on why, but we'll take it.
Depending on what your income level is you would also have an additional exemption for 2017 with the new child.
Just filed my income taxes this year using 1040EZ only. Saw an increase of about $300 compared to last year on federal taxes. When you filed this year did you see an increase in refund (or a decrease in what you owed) or did you see a decreased refund (or an increase in what you owed?
Increase in total taxes? Or increase in refund/ what you owed?
Well, I didn't expect 2017 to change. Not sure if this thread is about the new tax law or not, because it doesn't apply to 2017.
Anyhow, we made several thousand dollars more this year. My total tax liability increased by $3,000 due to the increase in income. I ended up owing about $2500.
Well, I didn't expect 2017 to change. Not sure if this thread is about the new tax law or not, because it doesn't apply to 2017.
Anyhow, we made several thousand dollars more this year. My total tax liability increased by $3,000 due to the increase in income. I ended up owing about $2500.
Didn't say anything about the new tax law. I was just surprised to see a nearly $300 increase and was wondering if anyone else saw a significant increase.
Didn't say anything about the new tax law. I was just surprised to see a nearly $300 increase and was wondering if anyone else saw a significant increase.
Again, not knowing if there were any changes between your income, taxes paid, exemptions, etc. it's impossible to determine if there is a reason for the change.
You said you made "several thousand" more this year...could have pushed you into the next tax bracket.
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