Just completed my 2023 taxes.
Worked a fair amount of OT and made 11000.00 more than my regular yearly salary, and 9k more than last year.
Even with the increased standard deduction I end up getting about 1000.00 less refund on federal, got about the same as last year for the state.
For the past 5+ years I've been getting about 1000-1100 federal refund and 3-500 state.
Guess the company software doesn't adjust for the OT, even though it sure looks like it on payday.
Makes no sense to me.
Worked a fair amount of OT and made 11000.00 more than my regular yearly salary, and 9k more than last year.
Even with the increased standard deduction I end up getting about 1000.00 less refund on federal, got about the same as last year for the state.
For the past 5+ years I've been getting about 1000-1100 federal refund and 3-500 state.
Guess the company software doesn't adjust for the OT, even though it sure looks like it on payday.
Makes no sense to me.