June 14, 2021

Do you get a bigger tax refund if you make less money?

Your tax refund depends on the amount of taxes you have withheld from your paycheck or that you pay quarterly if you’re self-employed. The tax software program compares the amount of taxes you’ve paid to the IRS throughout the year to your bottom line tax liability. If you overpaid, you’ll get a refund and if you underpaid, you’ll owe the difference at tax time.