Voting Question: Tax return lower than previous year?
My husband and I made 87,000 this year. We both claim 1 on our W4. We deducted our mortgage interest, work related expenses, property taxes, student loan interest. Is there anything I'm missing? We're only getting $160 back from federal and we owe the state $7. Does that seem right?
Resolved Question: Can my federal refund be offset by anything other than student loans or back taxes.?
I e- filed and checked the website for the state today and my refund was taken for a third party debt? I don't have any student loans or back taxes. So the IRS website gives me a date of deposit for my Federal return. Can a third party take that money? I also don't owe any back child support.
Voting Question: Is it possible to file Chapter 7 or 11 Bankruptcy on Federal Student loans?
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Voting Question: Tax return lower than previous year?
Single
No dependants
401 K withdrawl 1200.00
Renter
student loan interest deduction of 2500.00
no extra deductions
I need some clarification before i submit my 2007 return. My 2006 year i got back a little over 900.00, i made about 36000.00. Now in 2007 I left my job in april and got another, I made about 39000.00 this year between those two jobs. I also cashed my 401k, federal was already deducted and I know about the 10 penalty. Now I don't think a $3000 increase in pay is that significant to knock me into another tax bracket, from what i've read I'm still in the same tax bracket... so can someone please explain why my tax return dropped from $900 to $400..even with the 10% penalty I still think that's a little low
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