The wife and I made about the same this year as we did last year. Maybe a grand or two more. We received about $2000 more on our refund (Thanks Trump). We have two kids so I can only assume the change to the child credit deduction is what made the difference. My co-worker just told me that him and his wife received almost three thousand less than last year. They haven't had kids to claim for the past 3-4 years. My sister who has two kids received $5500 less than the previous year with no major changes. Her and her hubby might have combined for a couple grand more in income.
I am quite perplexed. Anyone?
I am my only dependent. I paid more. My income and deductions only changed slightly. I believe it is more a matter of where you fall on the tax scale which was greatly simplified from previous years. Their are fewer thresholds (tax brackets). My taxable income was near the bottom of my tax rate.
2018 tax year single filers
Tax rate Taxable income bracket Tax owed
10% $0 to $9,700 10% of taxable income
12% $9,701 to $39,475 $970 plus 12% of the amount over $9,700
22% $39,476 to $84,200 $4,543 plus 22% of the amount over $39,475
24% $84,201 to $160,725 $14,382.50 plus 24% of the amount over $84,200
32% $160,726 to $204,100 $32,748.50 plus 32% of the amount over $160,725
35% $204,101 to $510,300 $46,628.50 plus 35% of the amount over $204,100
37% $510,301 or more $153,798.50 plus 37% of the amount over $510,300