Why Your Tax Refund May Be Smaller This Year

Practice Areas

Some people may find that they have higher tax bills for 2021 than they have in previous years. During this live event, CPA Dimple Sankhla and Business Development and Outreach Manager Neha Mahajan discuss the many factors could contribute to this increase in taxes including:

  • Stock market impacts:
    • Increased mutual fund earnings.
    • Wash sales losses.
    • Vesting of restricted stock units.
  • Unemployment compensation.
  • Underestimation of tax withholding.
  • Changes to the child tax credit payouts.
  • Disqualification for the Earned Income Tax Credit (EITC).
  • And more.