Why does have two job enjoy a NEGATIVE impact on one's Federal Tax Refund?
It's like this:
My Federal Tax Refund beside Job 1's W2 only: $900.
My Federal Tax Refund beside Job 2's W2 only: $600.
With BOTH W2s: $300.
Why? Does the computation really SUBTRACT one from the other, or is that a coincidence?
Why does the number go DOWN?
Why aren't I acceptance a $1500 refund, where on earth the two refunds are added together? Is it possible to folder twice?
Answers: Because you file ONE federal return, no thing how many job you have.
Each livelihood, however, only know about the profits on that job, so if you saturate out the W-4 the same process at both jobs you will hold a smaller refund. You singular get ONE standard assumption and ONE personal exemption.
I don't know your income but I'm surmising that with both combined, your income puts you within a higher bracket. You cannot report twice; W2's are reported to the gov't and they double-check your return to make sure they're nearby.
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My Federal Tax Refund beside Job 1's W2 only: $900.
My Federal Tax Refund beside Job 2's W2 only: $600.
With BOTH W2s: $300.
Why? Does the computation really SUBTRACT one from the other, or is that a coincidence?
Why does the number go DOWN?
Why aren't I acceptance a $1500 refund, where on earth the two refunds are added together? Is it possible to folder twice?
Answers: Because you file ONE federal return, no thing how many job you have.
Each livelihood, however, only know about the profits on that job, so if you saturate out the W-4 the same process at both jobs you will hold a smaller refund. You singular get ONE standard assumption and ONE personal exemption.
I don't know your income but I'm surmising that with both combined, your income puts you within a higher bracket. You cannot report twice; W2's are reported to the gov't and they double-check your return to make sure they're nearby.