I am using my last check stub to file this year as I have not gotten my W2s yet. I made substantially more this year (almost $7000) so I thought I would get more back. ummm no. I recieved a significantly less EIC and child tax credit --not sure what the child tax credit was last year but this year my EIC was only $907 versus $2,027 last year.
Can anybody help? Maybe I should take this to a tax perparer?
Why would i get less on my tax return this year??
You can NOT file a legal return without your W-2 whether you e-file it or otherwise. There%26#039;s a very good chance that the amounts on your W-2 will not match your paystub. If that happens you%26#039;ll have to file an amended return when you get them.
If you don%26#039;t, you may get a nice CP2000 letter from the IRS in about 18 months explaining that your tax return and W-2 did not match. If more tax is due -- it happens about half of the time -- you%26#039;ll be hit with penalties and interest on top of the tax bill.
What you got back last year is totally irrelevant to what you%26#039;re getting this year. By your own words you%26#039;re getting less EIC so that would easily account for the difference. The CTC can ONLY eliminate your tax liability. Once your liability hits $0 it%26#039;s worthless to you.
If you insist on filing without your W-2, don%26#039;t waste a tax preparer%26#039;s time. They%26#039;ll just send you home to return once you have it in your hot little hand. No tax preparer will risk the wrath of the IRS by knowingly filing an illegal tax return and it ain%26#039;t legal without the W-2!
Why would i get less on my tax return this year??
Good luck. TFTP. Report It
Why would i get less on my tax return this year??
The more you make, the less EIC you are entitled to.
Why would i get less on my tax return this year??
Yes see a professional.
You cannot FILE your taxes with a paystub instead of W-2 until mid-Feb. IRS says NO.
EIC is a bell curve. Up to a point, the more you earn, the more you get back, but after that point, the more you earn, the less you get back. Have to understand that EIC is NOT your money, but extra money government gives people in certain tax brackets to help them out. You may be moving up to middle class!
Why would i get less on my tax return this year??
you cannot legally file your taxes with a check stub
not until the end of feberary if you can prove to the irs that you have tried evrtything to get your w2.
the reason you got less eic is because you made more.
the ctc is based on income, tax liability, and other things.
i do taxes
Why would i get less on my tax return this year??
EIC is based on earned income and number of children. More income lessens the EIC. The child tax credit is also income based and it is less this tax season than last. As far as filing without W-2s; most tax software allows you to do this, as long as you file electronically.
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