Not necessarily. If you have been making estimated quarterly payments based on income that may have been higher the year before, then you could easily get a big refund if you income dropped significantly during the year. A lot of people with oil and gas revenue in Houston will see this scenario. Had to make large 2015 quarterly estimated payments based on 2014 revenue, but saw a large drop in their income due to oil prices bottoming out. Its just part of the business.
This exactly. We spend 12k a year for private school daycare and essentially get a $600 credit. It's sorry. I've worked to have income changed to FSA contributions at the employer level though so going forward it will be tax free for me.
Just filed on Turbo Tax this morning. Freaking pain in the ass. Refund of a few hundred, Nothing great, still didn't owe.
