Intuit TurboTax Commercial Why is my refund lower? Spot

VIDEO Intuit TurboTax Why is my refund lower? TV commercial 2025 • Why is my refund lower? - TurboTax Support Video There are a few reasons why your tax refund might not be as large as it was last year. For more information, watch this helpful TurboTax Support video. TurboTax Home: https://turbotax.intuit.com TurboTax Support: https://ttlc.intuit.com TurboTax Blog: https://blog.turbotax.intuit.com TurboTax X: / turbotax TurboTax Facebook: / turbotax TurboTax Instagram: / turbotax TurboTax Pinterest: / turbotax TurboTax Tumblr: / turbotax ~Transcript~ There are a few reasons why your tax refund might not be as large as it was last year. But if you didn’t update your W-4, your employer probably withheld less from your paycheck. This means that instead of a larger refund, you got more money throughout the year. Now there’s also a limit on the amount of state and local taxes you can include in your itemized deduction. You can only deduct a maximum of $10,000 of state and local taxes, unless you’re Married Filing Separately, in which case you can deduct a maximum of $5,000. Your refund could be smaller if you made more money last year and aren’t eligible for certain credits like the Earned Income Tax Credit, had a child who was no longer eligible for the Child Tax Credit, got a second job and your withholding didn’t match your effective tax rate, had income where no tax was withheld, like selling investments or gambling winnings, or claimed a deduction that was eliminated this year. Other changes in the past year that can impact your refund are a change in income, especially if you earned more and moved into a higher tax bracket, and life changes, such as marriage, divorce, having children, or changes in dependents. Tax laws change, but TurboTax is always up to date. Rest assured that we have the latest information so you can file your taxes with confidence. For more answers to your questions, visit turbotax.com/support.

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