http://www.taxhelprelief.com/blog/2010/02/10/a-basic-tax-refund-question.html Tax Help for Those Who Need It! Fri, 12 Feb 2010 05:07:14 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.taxhelprelief.com/blog/2010/02/10/a-basic-tax-refund-question.html/comment-page-1/#comment-593 Bostonian In MO Wed, 10 Feb 2010 20:12:05 +0000 http://www.taxhelprelief.com/blog/2010/02/10/a-basic-tax-refund-question.html#comment-593 Comparing one year's refund to another year's is futile. Each tax year is unique. If you lay last year's return next to this year's it should be immediately obvious where the differences lie. The object is to break as close to even money as possible, NOT to get a large refund. When you get a large refund it just means that you lent the government a lot of money all year long without any interest in return. Comparing one year’s refund to another year’s is futile. Each tax year is unique. If you lay last year’s return next to this year’s it should be immediately obvious where the differences lie.
The object is to break as close to even money as possible, NOT to get a large refund. When you get a large refund it just means that you lent the government a lot of money all year long without any interest in return.

]]> http://www.taxhelprelief.com/blog/2010/02/10/a-basic-tax-refund-question.html/comment-page-1/#comment-592 Badger Boise Wed, 10 Feb 2010 18:31:37 +0000 http://www.taxhelprelief.com/blog/2010/02/10/a-basic-tax-refund-question.html#comment-592 That "slightly more" income of 2008 may have placed you in a higher tax bracket. You can see the tax brackets that apply to you (schedule X-filing single) on page 92 of the following IRS 1040 PDF file:http://www.irs.gov/pub/irs-pdf/i1040gi.p… Also if you changed your withholding allowances, that can change the results too. That “slightly more” income of 2008 may have placed you in a higher tax bracket. You can see the tax brackets that apply to you (schedule X-filing single) on page 92 of the following IRS 1040 PDF file:http://www.irs.gov/pub/irs-pdf/i1040gi.p…
Also if you changed your withholding allowances, that can change the results too.

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