I've been working on the mississippi river since i was twenty. The year of 2012 I made a little over 37000 dollars. For a minute i thought , man i'm going to do well during tax returns. Today I am away from home working and my wife explained that i would only get at least 1500 to 2000 dollars back if i claim only me and my son or 1000 dollars if i claim head of household, carry her, and my son as dependants. She works and only made close to or a little over 5000 last year. Our son was born june 7th 2012. he's about to be 8 months next week. I thought i'd be getting at least a good amount of my money back from how much i made along with carrying my wife and son: at least 4000 thousand. Hell other people i know getting over 4 to 7 thousand back in returns. Did i do something wrong? Or are they looking at it wrong? Jackson hewett did my estimate. i haven't filed yet because wanted to try to get ideas and investigate to find a way to get more back.
Good question. Most times your refund is based on how much you have taken out for taxes each paycheck - so those other people probably use a higher tax rate for deductions. You might invest in a software program - like Turbotax - and take a look at the options yourself. And, you would save a few bucks over JH. One positive way to look at your low refund is that you get more to spend every paycheck since the government is getting less.
My expertise is in collecting past due taxes and tax returns. While at the IRS I worked on wage and bank levies, liens, Offer in Compromise, late filing and payment agreements every day. I spoke with over 20,000 people concerning their issues while I worked there (just retired).
Ten years working for the the IRS in Collections and tax return review. Worked with over 20,000 people on their IRS issues. Explained their options and usually worked out a solution while they were on the phone.
Education/Credentials Masters Degree from Iowa State in Ames.