A few things I've notice in the last couple months:
1. People are more anxious than ever to get their refunds
2. Less people have refunds and/or their refunds are smaller
3. More and more people seem to think it is the preparer's fault when their refund wasn't as expected.
I would like to make something very clear - unless your tax preparer is completely incompetent, it is NOT thier fault if you have a smaller refund than you anticipated and already spent that refund in your mind. If your preparer is incompetent find a new one! ASAP!
But chances are: a) you made significantly more money than the previous tax year, b) you made significantly less money that the previous tax year, c) you no longer qualify for for refundable credits such as the Earned Income Credit or the American Opportunity Credit and/or d) any combination of a, b, or c.
There are actually many, many, many factors that go into determining your refund or tax due. Your preparer is well aware of all available credits and if they have been preparing your returns for several years, they are also very aware as to whether you qualify for these credits.
A good tax preparer should make you aware of the following:
1. When you are withholding too much or too little from your paychecks.
2. When your growing kids will no longer qualify you for the child tax credit.
3. When you will no longer qualify for tax credits.
If your preparer isn't having an honest conversation with about your tax needs, you should to find one that will. For me this is an important part of communicating with my clients every year.
Less than 6 weeks to go!
Your Mobile Tax Pro,