{ "media_type": "text", "post_content": "Hey Fish, I used EY text chat last year and I got $4,500 back. This year I didn't qualify to have the service through ACN so I had a local group do it and I only got 1500 back. Cont.", "post_id": "5c858b8a02a40a001c4cb8bf", "reply_count": 40, "vote_count": 3, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation", "feed_type": "bowl" }
null

Hey Fish, I used EY text chat last year and I got $4,500 back. This year I didn't qualify to have the service through ACN so I had a local group do it and I only got 1500 back. Cont.

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M2, in 2017, I had total of 945/paycheck withholding (married but filing single with no dependent or exemptions), 2018 they had taken out 805/paycheck and 2019 I see they are withholding 765 only. I didn’t make any changes in my withholding, why the heck it decrease from 2018. I always rely on tax return (usually get back around 10k), I’m not sure if get anything this year!

A1 do you honestly not understand that $180 more is going into your pocket every check? Assuming 24 pps that is $4300 of your “refund” that is already in your bank account on 12/31.

Again, look at your effective tax rate and compare from there. To do this, divide your taxes owed over your total income. This is the only way to properly judge tax reform.

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Recent IconRecent

At least you're getting something back. Tons of people who always got a refund ended up owing taxes this year.

But don't worry. Your salary went up by tens of thousands. The president said so.

likefunny

You're not the only person getting less back in taxes this year bro. It's all over the news.

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Paying less taxes = receiving smaller return

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I always claim more, so that I get more back at the end of the year. The last few years I've gotten over 4k back. Nothing has really changed from last year, so I feel like they must have made an error, but they insist they didn't. Anything suggestions?

likehelpful

A lot of people don’t realize they updated the withholding tables. This means the approximate withholding is much closer to actual year end results. My return went from $2k to ~$600. There are a lot of factors to consider, but most people will pay less in taxes year over year all things being equal.

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that probably means that you did lend less money to the government over the last year

likefunny

We have literally communicated exactly how to determine if you paid more taxes than last year. All you care about is your refund. You have provided your ETR and still don’t believe that you could possibly get $3k less in a refund when you have literally paid $3k less in taxes this year.

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Thanks EY1, did everything remain the same for you as well? Just curious. Thanks for the explanation

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OP - look at your total taxes this year vs last year, you should’ve paid less. The total refund is irrelevant from an accounting perspective, but pretty big from a psychological point. Look up on google, it’s all over the place.

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A1, you are not reading what KPMG1 said. It’s because your effective tax rate probably decrease so even though you claim the same number of deduction the government is taking less money and therefore you shouldn’t be getting a big tax refund. You could either claim less deduction to get more withholding or realize that it’s giving more money in your pocket now and that you won’t be getting much of a refund because you didn’t pay that much tax in the first place

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Jeez, if taxes were that easy we wouldn't need accountants!

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My god C1 I hope your day gets better, why so volatile?

smart

What makes you say I have ignored everything you guys have said? I hope you get better at communicating if you advance in Consulting, I can't see you managing people with that kind of an attitude and approach, honestly. I don't know anything about taxes - at all. I hate them. There are many things I am probably way better at than you, and when I reply to threads, I generally try to help people not make them feel badly or yell at them - that would be a waste of my time

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Also I am having my taxes professionally prepared- as per my original post. The accountant has not been very responsive with questions, hence me coming here. I literally got an email from him moments ago and he did mess something up - he fixed it and that added 400 and change to my return. I still need to review what he did to get that, but I knew something was off and was just trying to figure out what it was

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Did you read my other comment? My accountant was wrong. LOL of course I care about my freaking refund, that's why I posted on your!

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Lol what an intelligent comment. You're s genius SC1.

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Says the person who can’t figure out they paid less taxes this year. Which takes literally looking at 1 line on your return.

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Says the person who can't read. I got 700 more back, I was right there was something off. ☺✌Go get a, life my friend. You're negativity is gross.

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Damn OP you are really insufferable. I know you're going to reply because you have to get the last word, but for real take some of this feedback to improve yourself as a professional. Get perspective.

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But that's literally 1/3 of what I got last year. I mean are you guys getting a third of last year's return all else being equal? That just seems insane

90k in deductions???

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Taxpayers are abused the most in this country across the globe. It’s frustrating to see that only 1.5% of Indian population pay direct income tax, still govt. is milking them like anything and unable to do anything for these taxpayers. I’m paying 1 lakh tax every month, and what’s my return, 🔔🔔🔔,

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Leaving job before 1 year script for interview?

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If you go back to india with a green card, do you have to continue paying taxes in the US?

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