asked 53.9k views
1 vote
Under what circumstance might you receive a tax refund from the IRS?

asked
User Gumzle
by
8.0k points

1 Answer

4 votes
You might receive a tax refund from the IRS when your tax payments paid throughout the year exceed the amount of tax owed from your taxable income.

This may happen when you increase your withholdings on your paycheck such as each paycheck withholds more taxes than is necessary. The difference between the taxes paid and the taxes owed may result in a tax refund to be paid in April of the following year.
answered
User Sui
by
8.1k points

Related questions

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.