What is the new tax for 2022?

Did federal taxes go down 2022?

The tax rates themselves didn’t change from 2021 to 2022. That means you could wind up in a different tax bracket when you file your 2022 return than the bracket you were in for 2021 – which also means you could be subject to a different tax rate on some of your 2022 income, too.

Why did my tax refund go down 2021?

Answer: The most likely reason for the smaller refund, despite the higher salary is that you are now in a higher tax bracket. And you likely didn’t adjust your withholdings for the applicable tax year.

Why is my tax refund more than what I filed?

Why is my refund different than the amount on the tax return I filed? All or part of your refund may have been used (offset) to pay off past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or other federal nontax debts, such as student loans.

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