Fumeldecemolf

I can't do my own taxes for certain reason which makes me mad. but last few year my taxes have been over 2 thousand this year it is under a thousand don't get it. work the whole year at same job as always does. get money from a trust fund that their is to for me but can't touch it get money each month from it which is the same each month. I really dont get why such a big difference. it is making me so mad. and cause of the will and all with the trust fund i can't do my own taxes I don't get it at all. how can this be.
what makes no since was last year i got back over 2 thousand. this year getting back under 700. can do my own taxes but people in charge of trust fund won't give me the info i need to do it myself.

ioana_dorin1290

that is not much of a difference, did your income change? deductions? credits? You can do your own taxes if you know enough. trusts and such are tricky. why would you be unhappy about paying less?

GaroSogagma

There is no way to know without comparing the returns side by side.

I would hazard a guess that it has something to do with the income that is being reported to you on a K1 for that trust.

addirerilielL

There is one credit that most people were eligible for and it expired this year, that is the "making work pay credit" it was $400 per person $800 if you are filing married filing joint. This might be part of the reason for the cut.

fkee6853

If you're over 18, it would be a good idea to hire your own lawyer.

If you're under 18, your parents or guardians can impose those restrictions.

I'd be worried about them being all secretive with the trust.

It just depends on the situation, who "they" are.

In a trust you can earn income, but not get a distribution. That sounds like what's happening here. A large amount may have been added to your capital account, but you still only get $X per month. You'll get it eventually.

KDHugh

Not enough info to know. The making work pay credit expired and with that the withholding tables returned to normal. This year the social security deduction was 2% less so more money in your pocket.

EugeneAB

Just take the copy of each year income tax return page by page on a table or desk and got through each line from the page 1 of the 1040 income tax return until the last lines at the bottom of the page 2 of your 1040 income tax return and by that time you might have a good idea about why the REFUND amounts changed from the previous year income tax refund amount.
Hope that you find the above enclosed information useful. 05/01/2012