Monday, November 14, 2011

Could tax tax refund really go up another $1,500 since last year?

About half of the extra refund can be accounted for by a credit of $800 that you and your spouse are eligible for jointly under the "Make Work Pay" credit which applies to many 2009 tax return. Has there been an increase in your itemized deductions over last year? That could also add to the change in your favor. If so your initial workup estimate may be a good figure. I would just be sure to pay attention to all the info asked for if e-filing and be sure it applies to you. The same would hold true if doing your own filing. Paying someone to check your filing in my opinion should be done as a last resort.

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