Tax Returns

You have health insurance? Obamas fault even if you do.

Did you change your withholdings on your new W4?

So maybe? How long were you at your old job before you switched? Maybe you just don't remember.

I'd be willing to bet that you were getting less withheld every pay period which is why you're getting a lower refund. Maybe the new bank has a different withholding formula that they use.

Just put in last year's #s in this years program and see how they would come out in this years return.

Or, you really didn't get a 9% raise, they just deducted 9% less than last years salary, lol

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My income increased 9%

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/thread.

When you started working for the TN based bank did you fill out a W-4 that took into account your year to date earnings and withholding, or did you just fill out a W-4 with a fixed number of withholding allowances that assumes you were not working previously in 2014? If you did the latter, then the TN bank withheld assuming you had zero year to date income and withholding instead of taking into account your year to date income and withholding from the NC based bank. Some of your income that should have been subject to withholding at 25% was subjected to withholding at lower rates.

Telling us whether the total amount you paid in taxes for the year changed markedly would be far more useful than saying your return decreased. Too many variables.

After putting just my base W2 in TT, I had a refund of 5,200. I put my wife's in and we now owe over 600.

quote:

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Telling us whether the total amount you paid in taxes for the year changed markedly would be far more useful than saying your return decreased. Too many variables

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I paid slightly more in federal and state taxes at the job I was making less money at but I don't feel like there was enough of a difference to reduce my refund over 50%.