Your company withheld $4,463 from your paycheck for taxes. You received a $713 tax refund.

This simply means that your actual tax was 3750 because the total withheld - the refund. A tax refund is not an extra money earned by a person, it is actual an excess of what was paid by the person that the IRS have decided to give back to that person. Taxes are usually deducted based on information declared in Form W-4. The yardstick used by IRS is a straightforward method to lessen your assessable wage, yet you have the choice to ascertain your own ordered findings, utilising your genuine deductible costs.