For many taxpayers, a refund feels like proof that they did something right or a small financial win at the end of the year. When that refund turns out to be smaller than expected, or disappears entirely, the reaction is often confusion or frustration, even if income hasn’t changed much.
According to CPAs, refund outcomes are shaped by dozens of small decisions made throughout the year. Here are five of the most common refund surprises CPAs said catch taxpayers off guard and how to avoid them.
