I just did my taxes on turbo tax using a short form. I filed the short form no deducts. I have the same income as last year. Last year I had my regular tax person do my taxes on a long form and I ended up paying in about double what I would owe for this year. Can I go back and refile??
The form you use shouldn’t make a difference. I have my tax software to always print the long form because I have to explain it to clients while I’m looking at it upside down and it’s really hard to remember what numbers go where on three different versions.
The end results, though, are the same. Deductions, tax rates, etc. all identical.
There are too many possible explanations from data entry mistakes to changes in withholding, so the only way to know is to recalculate the return from the original source documents.
You can amend for three years from the filing date or 2 years from the payment date, whichever is later.
You can certainly refile, but if there’s a discrepancy between what Turbo Tax told you for this year and what your usual person told you for last year, make absolutely sure you know which one is correct before you do so.
A few years ago I refiled for two previous years when I realized I could save a bit more by itemizing deductions. It’s pretty easy.
I will have someone take another look at it. Seems kind of odd.
Don’t compare what you return was from year to year. Compare what your tax liability each year.
In the past I have had people I worked with tell me I must be doing my taxes wrong because I got a smaller return than they did. But when we compared what we having withheld from our checks, they were paying in over $200 more each pay day. And my TAx liability at the end of the year was smaller. So they paid more taxes and got a bigger return.
I am aware of that. I am going by the total liability. I found some more problems with it after looking closer, I will need to take it to a tax person.
Please, refund, not return.
The return is the set of papers you fill out and send to the IRS. For example, a filled out Form 1040 is a return.
When the government sends you back some money, that is called a refund.
Concur.
Personal exemptions have gone up slightly, I believe. Your withholding may have changed. Differences in tax laws in other areas may affect things as well. Any of these could affect your total liability and your refund amount.
Try using some tax software to plug in last year’s numbers for this year and see what kind of tax liability you have.