How Much Tax Refund You Expecting This Year?

The_Unchosen_One

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All I get is the standard deduction and a reduction in income due to 401K contributions. Then I have to pay back whatever dividend income I got from my investments which approaches about $1000 annually right now. Unless you pull off some wild itemized or other deductions getting $7K back is crazy. Why overpay like that?

I usually get back a few hundred federal and I almost always owe the state about $10-$50.
Severance pay is taxed at 50% so they took 17k out of my 35k when the company sold and we were let go
 
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